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DETROIT (AP) - Auto executives worldwide expect slower North American sales growth and more parts supplier bankruptcies during the next five years, according to a survey taken by the auditing and consulting firm KPMG LLP.
They also see high fuel prices permanently etched in consumers' minds, sending them away from trucks and sport utility vehicles to hybrids and low-cost cars, and that doesn't bode well for Detroit's Big Three, according to the survey being released Thursday.
But despite continued restructuring and too much production capacity worldwide, many of the 150 senior industry executives surveyed by the company said they also are at least mildly optimistic about profits as they identify cheaper ways to produce parts and new sources of revenue, according to the survey.
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