From an outsider’s perspective, the automotive industry’s turnaround is remarkable. After a year characterized by crisis, including drops in consumer demand, supply chain disruptions and financial uncertainty, the automotive industry has made significant strides towards recovery. According to a report from Reuters, auto sales in 2021 are expected to continue the fourth quarter growth of 2020—as high as 10% for some dealers. Not all companies are in the same place regarding their recovery, however, and were not all impacted by disruption in 2020 equally.
Earlier this year, BDO released its annual Manufacturing CFO Outlook Survey, which polled 100 manufacturing industry CFOs. Out of the respondents, 25% identified as being in the automotive and transportation subsector. The survey found that automotive CFOs’ outlook for their performance in the coming months is split between those expecting growth and those who anticipate continued challenges ahead.
All details can be found in the publication of our colleagues from BDO USA.
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