R. L. Polk & Co.’s Ask the Industry Asks Manufacturers How They’re Handling Rising Raw Materials Costs
By the end of 2005, oil prices had risen 45 percent higher than they were at the beginning of the year. Gas prices took a similar route, rising about 23 percent in 2005 leveling out to a national average of about $2.30 a gallon. As an industry that relies on oil and natural gas for a variety of critical processes — from fuel for parts deliveries to oil derivative products used in manufacturing – the rising costs of raw materials are certainly having an impact on U.S. auto parts manufacturers. For this week’s Ask the Industry, we asked manufacturers: How does your company handle the rising costs of doing business today, given increasing raw materials costs?
R. L. Polk & Co.’s Ask the Industry: Predictions for the U.S. Auto Industry in 2006
With all the struggles the automotive industry has faced this past year, do you foresee a better, stronger industry in 2006 or one that is worse for the wear, and why?