One of the fields, which will be more affected from the Coronavirus, is, with any doubt, the heavy industry and, among them, in Europe the automotive. The whole supply chain is suffering the consequences of a sudden collapse in the final demand; the recovery won’t be immediate at all simply because the EU market is a substitutional one and therefore the demand curve is very elastic to negative external factors. If we consider that only in Italy the automotive field is worth circa 11% of the GDP we are well aware of what we are talking about and the impact on the entire economy; a well-known fact, which clearly explains the meaning of these words, is the drop in sales of new cars of -85% (-50% in Europe) and of… Read the rest