Automotive engineering is a science- and capital-intensive segment of engineering. Automobiles, automobile parts, and lower-value goods for the automotive engineering are the main group of goods transported by rail container transport.
In a new European Economic Forecast, the European Commission expects a deeper recession and a slower recovery for the economy of the Union. However, the blow caused by the pandemic differs from country to country with some states and industries expected to recover faster due to internal factors.
In the light of the major economic crisis facing the auto industry due to COVID-19, the European Automobile Manufacturers’ Association (ACEA) has radically revised its 2020 forecast for passenger car registrations down to about −25%.