A survey of the global auto industry undertaken by just-auto suggests that prospects are bright for the sector as a whole, despite continuing concerns over the strength of the market in Europe.
Survey respondents were asked about business confidence and how they see the next 12 months for their business. A majority of respondents were either quite positive or very positive about the outlook. The result also suggests that many firms in the industry are continuing to enjoy healthy orders.
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“The result is perhaps a little surprising,” says just-auto editor Dave Leggett. “But outside of Europe, the picture remains fairly upbeat with car markets still growing in North America and many of the world’s emerging markets. And that is also benefiting the industry’s big supplier companies. Many of the bigger suppliers have restructured and broadened their geographical spread over the last five years.”
However, the survey also suggests that many in the industry remain concerned over the risk of economic recession and what that could mean for demand. The risk of recession was identified as the number one risk among survey respondents.
“The West European car market is widely forecast to be at least 5% down in 2012,” says Leggett. “The decline to car sales reflects a deteriorating economic picture as a result of the problems with national debt in Europe, policy disarray in the eurozone and the impact of austerity budgets. A real risk is that things could worsen in Europe and also that Europe’s financial problems start to have negative effects that spread around the world.”
just-auto’s annual auto industry outlook survey also canvasses views from the industry on market forecasts, emerging technologies and company winners and losers.
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By GlobalDataThe results of the survey were presented at a free-to-access just-auto webinar which can also be viewed on-demand by following this link. https://www.just-auto.com/webinars
