Displaying items by tag: IHS Markit
As major automakers and government officials pledge ambitious electric vehicle targets over the coming decade, Michigan’s automotive suppliers are adapting to a business environment that’s swiftly changing yet still firmly rooted in internal combustion engines.
Market research and consulting firm IHS Markit recently locked in its latest forecast for the North American automotive industry. Barring any major pandemic-related setbacks, most data indicate a scrappy recovery on the back end of 2020 that will continue into 2021. IHS Director of Automotive Analysis Mike Wall, who brings more than two decades’ worth of auto sector expertise, discussed the relatively surprising projections that he didn’t foresee at the start of the pandemic.
The topic of the day at this year’s Center for Automotive Research (CAR) Management Briefing Seminars was predictable.
Over the last decade and a half, the average age of light vehicles on United States roads has slowly risen.
While the COVID-19 pandemic was quick to hit, instantly styming manufacturing throughout Michigan and the country, the bounceback will likely not be as swift.
When local auto dealerships braced for a potential cramp in new vehicle inventory, they opted to go heavier on used vehicles. Now, they’re looking for just about anything.
The projected slide in new vehicle sales globally and nationwide paints a grim picture for the industry, but local auto dealership executives say there’s a disparity between the numbers and what they’re seeing on their lots.
Auto manufacturers, dealers and OEMs will catch a break from the busy auto show circuit this year after the COVID-19 pandemic essentially wiped out the ability to hold crowded events.
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.
Automakers are delaying or rethinking the timing of new vehicles as production disruptions caused by the global COVID-19 pandemic linger into the spring.