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High Adoption of Telematics and Digital Retailing to Drive the Recovery of Global Commercial Vehicle Market Post-COVID-19
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"The impact of the COVID-19 pandemic has forced companies and original equipment manufacturers (OEMs) to rethink business strategies with a greater emphasis on risk mitigation, operational flexibility, and innovative customer interaction and service measures," said . "With people staying indoors due to voluntary confinement or the imposed lockdown still in various regions, last-mile delivery of essential goods and services has experienced an uptick. The result is greater utilization of existing fleets and the realignment of fleet usage according to demand."
Martin added: "Most countries resumed partial vehicle production by June, and a full recovery in production capacity is likely to take effect only during the fourth quarter of 2020. Asian countries such as China , India , and Japan , which accounted for more than 50% of global commercial vehicle production in 2019, are expected to recover faster than countries in the west, such as the United States and Germany , which are expected to recover only by late-Q4 2020.
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