The automotive industry falls in line with the global benchmark on this year’s CEO Survey in terms of confidence. But they differ widely from the benchmarks when assessing major economies and low cost competition. Thirty-four percent of automotive executives are extremely concerned with the potential threat of a downturn in major economies.
Furthermore, respondents in the automotive industry express more concern about the potential threat to business growth prospects that may result from low-cost competition: 32.2 percent are extremely concerned compared with only 20.7 percent of all CEO respondents.
Yet, more than half (53 percent) of automotive CEOs are very confident of revenue growth in their companies over the next 12 months, while only 36 percent are very confident of revenue growth during the next three years. This compares with 50 percent and 40 percent, respectively, with the overall survey average.
