Displaying items tagged: IHS Markit

A turbulent period full of major disruptions for the automotive industry has translated into business doubling for Conway MacKenzie Inc., a Birmingham, Mich.-based turnaround firm.

ACME — After an extended period of growth, vehicle sales have started to cool at a time when industry-wide uncertainty is hampering manufacturers’ optimism.

So far this year, West Michigan-based automotive suppliers have endured the fallout from supply chain disruptions, wrestled with rising costs related to steel and aluminum tariffs and struggled to fill open positions at their factories.

With the automotive market performing slightly ahead of expectation for the year, IHS Markit analyst Mike Wall pinpoints trends that will keep projections positive for the rest of 2018. So far this year, Wall said news in the industry has been “interesting,” as some automakers phase out sedan nameplates to focus on trucks and crossovers, while others move “heaven and earth” to source components after a major supplier fire. In an interview with MiBiz, Wall shared his insights into the automotive industry.

Spurred on by tax reform, a need for innovation and the current talent shortage, manufacturers increasingly have embraced automation on their shop floors.

For West Michigan manufacturers who are struggling both to find workers and to keep up with order volumes, the recent federal tax reform offers some welcome news.

DETROIT — By offering diesel powertrains in their light-duty pickup trucks, the Detroit Three automakers are betting they can eke out even more sales in what’s been a red-hot market.

A growing number of automakers are adopting a new business model that could change how some customers get into the car market.

DETROIT — As two of the top three best-selling vehicles get a makeover this year, the 2018 North American International Auto Show once again seemed devoted to the ultimate American lifestyle automobile: the pickup truck.

More automotive suppliers these days are finding it’s easier to buy cutting-edge technology companies than to develop the complex systems on their own.

With 177 new vehicle launches expected by 2020, tooling suppliers like Walker Tool & Die Inc. are bracing for another busy period in what’s been a string of good years for the industry.

HOLLAND — A West Michigan startup hopes to drive down costs and increase consumer safety for electric vehicles with new technology it plans to bring to market next year.

GRAND RAPIDS — While the automotive sector may be nearing the end of a strong sales cycle, West Michigan-based suppliers remain bullish on the industry.

As the pace of technological change intensifies for the automotive industry, suppliers are turning to acquisitions to reshuffle their businesses and prepare for the road ahead.

While optimism for the U.S. economy remains relatively high, many economists and industry watchers are forecasting a period of slow growth in West Michigan’s manufacturing sector. 

Automakers have some more breathing room to weigh in on federal fuel economy regulations.

Despite a relatively stable outlook for the automotive sector, industry experts have started noticing evidence of “stress fractures” appearing in an otherwise healthy market.

Lower fuel prices may have shifted consumers’ buying habits toward trucks and SUVs, but most automotive suppliers believe electric vehicle technology is here to stay.