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U.S. auto executives show some optimism

Aug. 2, 2011 at 2:26 PM   |   Comments

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DETROIT, Aug. 2 (UPI) -- Auditing firm KPMG LLP said a survey of U.S. automobile industry executives indicates optimism concerning revenues and hiring for 2012.

In the survey, 72 percent of auto executives asked indicated their companies would increase revenue in 2012. Nearly two-thirds -- 62 percent -- indicated they expected to add to their workforce next year.

Almost a fifth -- 19 percent -- indicated they expected payrolls to increase by more than 7 percent in 2012.

"The survey results clearly demonstrate that the restructuring efforts of the past several years have helped U.S. auto manufacturers emerge more efficient and more competitive," said Gary Silberg, national automotive industry leader for KPMG.

The auto executives were not naive, however. Eighty-three percent of the survey respondents indicated they believed the U.S. economy would remain flat in 2012. Sixty-one percent indicated a full economic recovery was at least a year away.

© 2011 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
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