Automakers and suppliers expect to hire more people and expand their plants in the next year to keep up with growing demands for U.S. light vehicles, according to a report released Friday by KPMG LLP.
In a statement, Gary Silberg, national automotive industry leader for KPMG, attributed the result to pent-up demand for vehicles in the U.S.
Other findings:
• About two-thirds of the 100 executives surveyed said they have a significant amount of cash that they expect to invest before the end of the year. About three-quarters plan to increase capital spending next year, primarily on new products, services or physical expansions.
• Nearly half expect to be involved in a merger or acquisition as a buyer, with 10 percent expecting to be a seller.
• More than half said North America was the primary growth market for their companies, followed by China and South America.
By: Meghana Keshavan, Crain’s Detroit
