DAVID FURLONGER: Exports save the day
Pessimistic motor industry CEOs see deliverance in foreign orders
02 June 2023 - 06:00
Motor company CEOs are understandably nervous about the immediate future for their industry. Only a tiny minority believe jobs and investments will improve in the coming months and there is pessimism about general business conditions.
The good news is that they believe vehicle production will grow, driven mainly by increased export demand. In the first quarter of this year, manufacturing capacity utilisation for all vehicle categories — cars and various sizes of commercial vehicles — was higher than in 2022. More importantly, it also outperformed 2019, before Covid. ..
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