Welcome to CSM's Insights for 4Q 2008. At CSM Worldwide, we've always focused on the importance of maintaining a global view of the auto industry and the economies in which it operates. In that context, this issue of Insights focuses on the relationships between regional economies and the overall effects on our industry.
For a long time, the U.S. economy set the pace for the rest of the world. That premise appeared to be losing its credence over the past few years, as many regional economies continued to grow while the U.S. economy lagged. But now, the slump in the United States has become so deep, it's causing slowdowns nearly everywhere in the world. In Europe, the spreading credit crunch has all but stopped IPOs, mergers and acquisitions within the auto industry, with one glaring exception - wealthy, family-owned firms that have the flexibility and freedom to set their own strategies, independent of traditional market forces.
Also in this issue, we'll examine the rise of domestic OEMs in India and the reasons diesel-powered light vehicles may never make a major impact in North America.
And finally, you might notice a bit of a different look with this issue of Insights. Consider it an early peek at some exciting new developments here at CSM Worldwide that we'll be telling you more about shortly.
Thanks for reading,
Craig Cather
President & CEO
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