Global automotive industry forecast is mostly sunny
Mike Wall, IHS Automotive press.ihs.com
Patrick Center March 6, 2014 | WGVU “There are just a few clouds that we just have to keep an eye on, but overall it’s still a pretty sunny existence that we’re going through right now.”
Like a weather forecaster, automotive analyst Mike Wall from IHS Automotive in Grand Rapids gave his global outlook for the year during the 15th Annual Automotive Suppliers Symposium hosted by Grand Valley State University. He tells us the U.S. will produce 16.8 million units this year. Consider that during the depths of the Great Recession roughly half that number rolled off the assembly line. U.S. sales plummeted to 10.4 million units.
“We’ve come a long way as an industry, as a region if you think about the North American or the U.S. market. There’s still some room, room to run. There’s still some areas of improvement and opportunity but I think we’re at the very least where we hoped to be and if not maybe even a little better.”
A strong China and a recovering European market are key factors. As for the clouds in Wall's forecast? It’s the emerging markets of Brazil, India and Russia that could put a slight damper on what is a very good global automotive outlook. ListenDownload
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