Yesterday, SupplierBusiness released its Automotive Confidence Index, which regularly takes the temperature of the industry from the front line, ahead of other sales and performance statistics.
Taken each quarter, the index covers four key areas:
- new orders
- inventories of finished products
- overall inventories
- employment levels
This latest index, representing the three-month period from May to July, shows encouraging signs of confidence returning to the industry. For instance, even though the number of suppliers reporting declining orders hasn’t changed, the number of new orders increased –particularly in Europe, where there was a 13.8 point rise. That trend even held in North America, where new orders increased 3.9 points.