Mexico Now magazine hosted its Automotive Industry Conference in the capitol city of the State of Puebla during the first week of December of 2013.
Among the topics examined during the event was an in-depth examination of the global outlook for the production and consumption of light vehicles for the remainder of the decade. The presentaton on this subject was made by George Magliano. Mr. Magliano is a Senior Principal Economist with IHS, a global information company. In his role with IHS the focus of his efforts is on tracking the impact of the U.S. and global economies on the worldwide automotive industry.
Mr. Magliano’s presentation at the December 2013 Mexico Now Auto Industry Conference prognosticated a gradual acceleration in the global economy. He stated that this forward economic movement will manifest itself in the strengthening of global GDP growth over the course of 2014. In additon to providing useful data via graphics on topics such as:
- Country vehicle penetration
- Global light vehicle sales and produuction
- Regional shares of light vehicle sales
In terms of the overall economy, Magliano foresees that the Asia-Pacific region will continue to set the pace for global growth, his is despite the fact that China’s financial system is “vulnerable to excessive leveraging through shadow banking.” He notes that India is in the process of achieving “stabilization in manufacturing and services,” and that both India and Indonesia have been significantly affected by capital flight.
Despite a generally sluggish economy, during his Mexico Now Auto Industy conference presentation, Magliano noted that the auto industry has been a solid performer due to conditions of pent up demand. He does go on to point out, however, that although “cost pressures are easing and industry profits in North America are good,” production in the region will outpace sales during 2014.
LINK BELOW TO PRESENTATION: