Order books have remained full, which should help earnings through early 2023. But the industry has yet to recover to pre-pandemic levels and probably will not be able to avoid a third consecutive year of decline, according to Bloomberg Intelligence.
Analysts at LMC Automotive expect high rates of inflation, declining consumer confidence and stretched household budgets to hit demand in the coming months. “We assume 2023 will comfortably outpace 2022, though we are a little more…
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