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Third quarter indicates slight recovery
The quarterly reports from the various market players suggest that some recovery is in sight. Or: that the austerity measures are taking effect.
Third quarter indicates slight recovery
In the summer, reports from the automotive and supplier industries were extremely sad: short-time work, massive declines in sales and revenue, short and medium-term savings plans, staff cuts, site closures. In short: The prospects for Q3 and Q4 2020 were very modest.
We have now received a number of quarterly reports. The PSA Group already reported minimal growth. Also that one VW Group has turned back onto the winning road. Now also report Schaeffler and Brembo positive tendencies.
But it is also a fact that many companies significantly increased their efficiency in the second quarter - that is, they developed and implemented savings plans. This means: The quarterly reports indicate that demand has picked up again in some areas, but also that the sometimes massive savings measures are taking effect.