GERMANY: Suppliers see better times
German auto suppliers are recovering faster than expected according to German automotive trade association the VDA.
Since the start of the year order intake has jumped by 40% year-on-year and revenues went up 25%.
Auto suppliers are also optimistic on prospects for 2010, a survey showed.
The news of better times for German auto suppliers coincides with better financial results for Tier 1 suppliers across the Atlantic where restructuring and raised production by OEMs is lifting profits.