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North American Supplier Confidence Grows
Auto parts makers in North America are more optimistic about the industry's outlook because of stabilizing sales and production in the region, according to the Automobile Supplier Barometer Sentiment Index.
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Auto parts makers in North America are more optimistic about the industry's outlook because of stabilizing sales and production in the region, according to the Automobile Supplier Barometer Sentiment Index.
The index, which is compiled by the Original Equipment Suppliers Assn. from a survey of its members, climbed to 66 in May from 59 in April.
The Troy, Mich.-based group says only 4% of those surveyed were pessimistic about the business compared with 12% in March. The shrinking European auto market remains a major concern.
Some respondents report a significant increase in North American demand, in part because of the large number of new-model launches in the next 12 to 24 months. OESA estimates that about one new model will be launched per month in the region.
Parts makers are squeezing more output from existing factories, thus pushing their median capacity utilization rate to 89% from 85% a year ago. About half of those surveyed, predominantly powertrain suppliers, say they have a significant level of supply chain constraints.
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