Despite the production issues that have arisen as a result of chip shortages, here is an indication of the auto industry's confidence:
“Our pricing is just strengthening every day,” Chief Executive Officer Jim Farley said at Deutsche Bank’s automotive conference recently. “It’s pretty breathtaking, actually.” Ford Motor Company has revised its previously bleak financial outlook, saying it now expects stronger second-quarter results due to increased demand for its models and a sharp increase in the prices consumers pay for them.
It’s not a surprise to the executives who follow TechnoMetrica’s Auto Demand Index each month.
The TechnoMetrica Auto Demand Index (ADI) rose 12-points, or 4.3 percent, to 180 in June. The average ADI since the onset of COVID has been 168, compared to 180 this month.