Toronto, Ontario — The Automotive Industries Association (AIA) of Canada has released results from its COVID-19 aftermarket business survey.
According to the results, 42 percent of the industry predicts a turnaround in the next 30 days, while 30 percent believe it will take longer before we see a restart.
“The survey results showed a cautiously optimistic response, with 42 percent of respondents thinking that their impacted businesses will start seeing a recovery in the next two to three months,” said AIA alongside the results. “This is on the proviso that the virus outbreak is under control, lockdowns are being eased and demand also returns.”
A further six percent of respondents believed businesses will return to normal operations within the next 30 days, while nine percent were uncertain if they would even be in operation.
According to AIA, more than 61 percent of businesses have seen disruptions due to COVID-19. More than 40 percent have experienced reduced productivity due to staffing conditions, while 15 percent have rehired previously laid-off employees.
“We’ve re-hired two out of seven employees, just to try and keep business afloat,” said one respondent. “We are in financial survival mode—nothing more.”