ZEELAND — Gentex Corp. (NASDAQ: GNTX) reported first-quarter losses related to the ongoing shutdown of most vehicle production and the ensuing economic crisis caused by the coronavirus global pandemic.
The ritual of public companies hosting their annual shareholders meeting will start again in the coming weeks.
A tooling engineer from Grand Rapids-based Tier-1 supplier ADAC Automotive was traveling in the Wuhan area of China when the Coronavirus public health crisis broke in late January.
ADAC Automotive, a Grand Rapids-based Tier 1 automotive supplier, is working toward a new strategy that will bring supplier-initiated technological advances into the sector.
Regardless of when the historic UAW strike against General Motors Co. ultimately ends, the disruptive effect of lost production and earnings will linger, putting further strain on an industry already flagged by slowing sales and tariff disputes with China.
ZEELAND — The United Auto Workers strike against General Motors has cost Tier 1 automotive supplier Gentex Corp. about $7 million to $8 million per week in lost sales.
HOLLAND — Johnson Controls International plc would exit its last remaining automotive industry manufacturing operations in West Michigan if it completes a transaction announced this week.
As supply chains adjust to new realities in international trade, West Michigan manufacturers are entering the final months of 2018 with “caution.”
Manufacturers in the automotive supply chain are scooping up acquisitions in emerging technologies to break into new markets before their competition. By moving into alternative powertrains, connected car technologies, artificial intelligence and predictive analytics, suppliers want to position themselves to get ahead of disruptions as the industry shifts to the “car of the future,” according to Jeff Zaleski, U.S. automotive deals leader at PricewaterhouseCoopers LLC, a global consulting firm.
Despite a decline in light vehicle production globally so far in 2018 and supply issues that affected product deliveries, automotive supplier Gentex Corp. saw higher sales in the first quarter.