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Global Auto Manufacturers and Suppliers Outlook is Neutral for 2024
The sector outlook for global auto manufacturers and suppliers in 2024 is neutral, according to Fitch Ratings’ new outlook report. The neutral outlook reflects Fitch’s expectation that improved supply chains will allow for higher global vehicle production, but overall sales will be tempered by less robust economic conditions, particularly in the U.S. and China. Fitch expects global sales and production to rise about 4% in 2024. Fitch forecasts lower economic growth and higher interest rates will affect overall vehicle demand in 2024. However, high pent-up demand due to industry under production over the past ... (full story)