The 2020 Mid-Year Economic Update_long

Distributors Weather Auto Turmoil

The slowdown in the auto industry is being felt well beyond the Big Three automakers currently appealing to Congress for help. Distributors and manufacturers that serve the automotive industry are struggling to keep their own businesses solvent; business for many of them has dropped precipitously over the past few months.
Jeff Stohr, president of Conveyer and Caster -Equipment for Industry in Cleveland, OH, says he began noticing a slowdown in automotive about five years ago, but the real turning point was Nov. 1 of this year.
Our business at that time was a fraction of what would be considered normal,"Stohr says. The distributor of material handling products, casters and conveyor systems has annual revenues of $10 million to $15 million, with the automotive ...

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