Pessimistic Outlook for US Equipment Aftermarket
In the US the Motor & Equipment Manufacturers Association (MEMA) has announced the results of a recent member survey showing that suppliers expect business to look a little less than rosy for the automotive aftermarket this year. The results were compiled from quarterly market segment surveys conducted by the three MEMA market segment groups – Automotive Aftermarket Suppliers Association (AASA), Heavy Duty Manufacturers Association (HDMA) and Original Equipment Suppliers Association (OESA). These member-only industry surveys serve as barometers for the business outlook for the next 12 months.
Across all three of MEMA’s market segments, the surveys showed that the 2008 business outlook is slightly more pessimistic than it was in 2007. “Although these results indicate some degree of pessimism, it does not show that conditions in the motor vehicle supplier industry are bad for everyone,” noted Bob McKenna, MEMA president and CEO. “More than one-third of our members say they expect conditions will remain unchanged. One-fifth of those responding report their business outlook is optimistic, at least for their company. Some even report that the outlook for the next 12 months is significantly more optimistic for their company.
“Given the generally negative economic forecasts for the full US economy in 2008, it is a testament to the resilience of our industry that our members’ outlook is as positive as it is,” McKenna added. (Tire Review/Akron)