Automakers see 'warning signs' as inflation weakens demand for new cars
have raised sales forecasts due to continued high demand for top end models, the outlook for the bulk of the industry is bleaker.
Waiting times on new orders are becoming shorter as order books thin out. That's even with production slower than usual and deliveries well below last year, executives said.chief executive Oliver Zipse said in an earnings call on Wednesday, pointing in particular to Europe. Carmakers have until now protected margins by bumping up prices, but the steep rise in inflation in North America and Europe could make it more difficult to pass on rising costs.chief financial officer Arno Antlitz said last week, though he said order books were still full for the coming months."The warning signs are for Europe and North America, less for the Chinese region."
Inflation in Europe and the United States has soared in recent months with central banks warning a peak could be months away, sending consumer and business sentiment plummeting.
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