Annual Automotive Survey Finds Increased Optimism From CEOs

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6th March 2014 12:26 - Automotive

According to the 17th Annual PwC CEO Survey, automotive CEOs are more optimistic this year, despite concerns about a wide range of threats. This year almost half (44%) of automotive CEOs believe the global economy will improve over the next twelve months – just 7% expect it to decline. A U-turn from last year’s sentiment when just 16% of automotive CEOs expected the economy to improve and 32% believed it would decline.

Although optimistic about this coming year, automotive CEOs are more concerned that their peers about a whole host of threats, from exchange rate volatility to high or volatile energy costs and raw material prices, from shifts in consumer spending and behaviours to inadequate basic infrastructure and supply chain disruption. Political economic threats are looming too; four-fifths (78%) of sector CEOs worry about an increasing tax burden, compared with 70% of CEOs overall.

Findings also suggest that China is the market of choice for automotive professionals, with two-fifths (37%) of those polled picking it as their key growth market - followed by the U.S. at 30%.

Three-fifths (60%) said they were concerned about availability of key skills.

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