Global in scope, touching every industry and the target of more direct government intervention than we have ever seen before, today's economic storm will be studied by academics for years to come. But at CSM Worldwide, we already are looking at what the world will be like when growth returns to the automobile industry starting next year.
As you can read in Henner Lehne's article in this issue of CSM Insights, we expect one more year of declining global sales before a recovery gathers steam. It will be fueled by reopened credit markets, massive government stimulus and significant pent-up demand.
When sales do rebound, it's going to be a very different industry. Some of the changes are becoming self-evident. For example, there will be fewer independent automakers, and far fewer suppliers and dealers, especially in North America.
At the same time, uncertainty abounds:
You might think it's impossible to plan effectively in an environment like this. It's difficult, to be sure, but not impossible if you have the right tools. At CSM, we are continuing to make major investments in our econometric and other forecasting models to help guide your short-term tactical and long-term strategic plans.
This year is about survival. But on the other side of the recession, we see a transformed industry that is much leaner, far more nimble and with new opportunities for profitable growth.
We look forward to continuing as your valued partner and putting this perspective to work for you.
Thanks for reading,
Craig Cather
President & CEO
