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A whopping 93 percent of automotive OEMs and suppliers say they have seen an increase in demand for their vehicles, parts and services in the past year. Those numbers are reported in the
2012 Dykema Automotive Institute Survey: Industry Challenges. Due to the jump in business, 77 percent surveyed said they had "made substantive changes" to handle the growth.
But the study wasn't all good news. A third of survey participants said they expected raw material costs to be a significant challenge in the coming year. Tight lending was the second most cited concern in the study.
And it looks like more mergers and acquisitions are planned for the coming year. The study showed 56 percent of respondents planned to move forward with an acquisition.
Other issues that concern automotive executives are class action litigation, legislation concerning energy and environment and financially-troubled suppliers. The survey also asked executives if their business was prepared for a major natural disaster, with 41 percent saying they had not devised a crisis management plan.
Continue reading Auto industry cites raw material cost, easy credit as two biggest concerns
Auto industry cites raw material cost, easy credit as two biggest concerns originally appeared on
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Study: Auto industry cites raw material cost, easy credit as two biggest concerns
