The 2020 Mid-Year Economic Update_long

Finally, Some Positive Signs in Automotive End-Markets

Consumer confidence, dealer incentives have pushed auto sales to recent highs.

Good news on the automotive front today. Manufacturers are reporting growth in automotive OEM markets in the latest quarter. Illinois Tool Works said that base revenues for its transportation segment grew 32% from the year-earlier period, largely due to increased auto builds in North America and internationally.

We Deliver Distribution News to Your Inbox
Sign up below to receive MDM Update, your free weekly distribution news update by email.


Bearings manufacturer SKF also reported improvement in these markets.

Granted, these are increases from a very low level, but they are increases nonetheless.

Anecdotally, it seems consumer confidence is turning around on the car-buying front. Maybe it is because I just bought a car myself, but I have noticed many more new cars on the roads than I have in a long time. In fact, of the eight employees at my husband's workplace, five (including him) have purchased a total of seven cars in the past month. That may be on the high end for a small company, but it certainly is an example of an increased willingness on the part of consumers to make big purchases.

And as employers start considering raising wages again, this confidence may continue to grow.

Data show vehicle sales increased 24% in March with more than 1 million car sales, in part due to great financing and dealer incentives to get consumers in the doors. (Data for March are available through Autodata Corp..)

Find out what is in store for the motor vehicles and motor vehicle parts wholesale distribution sector with Adam Fein's 2010 Wholesale Distribution Economic Reports.

Industrial distributors can learn about economic trends in their sector with the Industrial Distributor segment economic report from Adam Fein.

About the Author
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

By subscribing, you are agreeing to MDM’s Privacy Policy.


articles left

This is your last free article

Subscribe to MDM Premium today and get:

  • Unlimited access to
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events


articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events



You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.