Posted By
TRACY SCHNEITER
on
7/21/2010 2:49 PM
With much news lately regarding the continued pessimistic outlook towards economic indicators such as the lack of a speedy jobs recovery or the need for some sort of miracle housing cure, I thought it was time to give a snapshot from IRN’s most recent vehicle production forecast. Given the context of where we have been, i.e. in the economic basement of 2009, things are certainly looking up. Our industry has weathered the worst of what had been unsustainably low volumes and has been steadily restocking inventories ever since.
Many suppliers we’ve talked to indicate they have reworked their business model to post modest gains at around a 12 million North American industry production level. IRN’s most recent forecast projects that level will be met in the first or second quarter of 2011 – just around the corner. The chart below shows selected segments - trucks, crossovers and small/mid-size cars – that will all share in the rebound. SUVs, shown by the line at bottom… not so much.
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