GE Capital auto survey reveals economic optimism
GE Capital has released the “Automotive Industry Economic Outlook Survey,” a national survey of C-suite executives at middle market companies (ranging from $10 million - <$1 billion in sales). The survey examines opinions on financial performance, operational issues and the economic outlook.
The company says the survey shows that C-level executives in the automotive industry are upbeat, with two thirds predicting revenue growth over the next year and only 2% experiencing a decrease in revenue over the past year. Further highlights include:
- employment is forecast to grow by an average of 2.3% year over year, with one third of firms adding new staff;
- new order pipelines are strong, with the majority of executives (56%) experiencing an increase compared to last year;
- light vehicle sales are expected to rise over the next year by a majority of respondents.
- despite the persistence of high healthcare and business operating costs, most firms in the automotive sector expect increasing margins in the coming year;
- there is broad agreement that light vehicle sales will continue to increase in the next 12 months;
- increases in the new order pipeline and the expectation that the industry will continue to expand are sources of optimism in the industry; and
- middle market leaders in the automotive sector are confident in the U.S. and their local economies.
To see the survey, click here.