US automakers show confidence in car sales – Money Times

Even as consumer spending eases, buyers continue to spend on vehicles. Automakers reporting the latest earnings forecast not only continued strength in demand for cars and trucks in the second half, but also better conditions on issues such as recent supply chain issues, which should help boost profits in the coming months. .

Customer orders, higher paying buyers and lower inventory helped most global automakers post consecutive profitable quarters.

Individual dynamics support the belief that economic uncertainty can be weathered better than in past recessions.

The financial stimulus is critical for these automakers, who spend billions of dollars on issues like moving their lines. Electric vehicles.

The Ford Motor And this Stellandis It posted double-digit gains in this week’s net results.

effect General Motors It was strongly lower in the second quarter, but still had a net income of US$1.69 billion, reaffirming its expectation for the end of the year.

Some automakers are taking steps to protect their businesses and avoid a potential slowdown, including layoffs, in response to pressures from higher commodity prices, higher interest rates and factory closings in Asia. Covid19.

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