Only time will tell when the industry will fully recover, but one thing is certain: the industry that re-emerges will be significantly different. Changes will occur in its technology, product focus, regulatory obligations, supply chain structures and market leadership.
Despite some signs of recovery, the global automotive industry as a whole will remain severely challenged throughout 2009 and perhaps well beyond. Many companies will have to reinvent themselves to adapt and succeed in a tougher, leaner and far more complex marketplace. However, rewards and opportunities exist for companies that can take advantage of tomorrow’s post-crisis economy.