Global automotive perspectives: Preparing to compete - Issue 1, 2010
2009 was certainly a challenging year for the auto industry. 2010 promises to be no less challenging as companies that have survived the brunt of the downturn must now prepare for a volatile future, requiring new approaches in most everything that automotive companies do, from reporting to their stakeholders and the investment community at large, to making decisions about their tax and legal structures in a depressed market, and to rethinking their business structure entirely to eliminate complexity that hinders competitiveness and stifles innovation.
Our latest issue of Global Automotive Perspectives provides timely points of view from our core lines of service that you can turn into concrete actions that can prepare your business to compete successfully in the new reality:
- Reporting 2009 annual results: The global economic crisis and its consequences for automotive companies require clear and transparent communication of management strategy, risk exposure, and outlooks.
- Transfer pricing in a crisis: Many automotive companies' transfer pricing rules were established during stable economic conditions. However, such processes might not be adequate in a volatile market. A review of current policies is not only worthwhile but wise.
- Simplifying the business model: As companies in the automotive sector have grown and evolved over time, so has the underlying complexity of their business models. The new economic reality presents an opportunity to simplify the business model to improve competitiveness.
These are only some considerations you should keep in mind as you drive your company out of the recent aftermath and into a future that will thrive on competition. We invite you to contact us to discuss your company's situation in light of these or any other business challenges you face on the road ahead.