The American Bus Association (ABA) recently estimated that the motorcoach industry would realize an economic loss of nearly $11 billion, representing a 71 percent decline in annual business amid the COVID-19 crisis.
The John Dunham & Associates, New York, N.Y., analysis generated for the American Bus Association Foundation also showed job losses and economic damage provided at the start of the pandemic have been realized across the motorcoach industry.
The April 2020 projection indicated $11.1 billion in sales, and 64,000 jobs would be lost due to the COVID-19. An updated report revealed approximately $10.9 billion in sales would be lost, with 62,800 jobs removed from the industry.
“While this is a slight improvement from the estimates developed at the height of the economic disaster, it represents just a 1.9 percent improvement,” ABA President & CEO Peter Pantuso said. “This data shows the continued decimation of the private motorcoach industry, which has not received any financial help from Congress or the Trump Administration like other modes of transportation received in legislative relief packages passed so far.”
Pantuso indicated the motorcoach industry needs immediate government assistance.
“I can’t say how much of it will be left when Americans need access to economical and reliable transportation for work or for leisure or is in need of emergency evacuation services as a result of natural disasters,” he said. “As the economy tries to right itself, it is buses who will bring people to destinations, hotels, events, and other locations that are also seeking to recover.”