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Car Industry Expects Weakness – Corolla Financial Report
Economic weakness and record debt levels in Europe and the US are causing concerns for the health of the car industry. The US car market is expected to be more cutthroat than usual as sales drop and the returns of Toyota and Honda are completed.
Economic weakness and record debt levels in Europe and the US are also causing concerns. The US and European markets are also expected to be soft in the months ahead, though as of yet there is no talk of another recession. The auto industry, particularly manufacturers with a large portion of their sales in the US, is about to go through another recession of its own. Record levels of debt in Europe and the USA are sparking concern, and growth in these markets is expected to be slow at best. Even the currently successful German car makers (BMW, Mercedes, Audi) will be concerned at these problems creeping over the horizon. It is too early to decide whether the biggest auto firms will start to lose money again, but they will at the very least struggle to show profits. Consequently, the current models unveiled at the show were both smaller and more fuel efficient than the cars they were making before the downturn. Harmful emission levels have also been cut, with most carmakers now offering electric or petrol-electric hybrid alternatives to cars powered by conventional petrol engines. Many of the new models displayed at the show reflected current concerns such as fuel prices and environmental impact with electric hybrid cars, small sports utility vehicles taking up a large portion of the stands at the show.
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