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Managing Director Insights

Automotive News

1/30/2024

#1) New Vehicle Sales

In the automotive industry, new Vehicle sales in the month of January has always been a good indicator of what car sales may look like during the entire calendar year.

The higher new car sales are, the more parts that are sold.

The forecast for January 2024 is to be 8.3% over January 2023.

A good start to the year.

January sales are typically the ‘lowest month’ for the industry.

I anticipate that Tier supplier CEOs will look at the data, and be optimistic for what the year will hold, and based on indicators only, there should be some optimism for the year … a bit more reliable than Punxsutawney Phil.

#2) Electrification

Electrification of vehicles is well behind forecast from a few years ago.

The sales of electric vehicles are growing still … just not at the rates previously imagined.

Suppliers will pivot to more ICE programs to meet with the shifts of the carmakers … who are adjusting to the needs of the market.

31-34, snow all day.

Make it a great day, everyone!

Article linked in the comments for reference.

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SCN – Search Consulting Network

Jim Guerrera

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Jim Guerrera

Jim Guerrera, Managing Director, founded SCN in 2000. Jim is primarily responsible for the development of the leaders at SCN, strategic planning, the hiring and development of company associates, culture leadership, core value leadership, sales le...

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