U.S. auto suppliers cheer as carmakers relaunch, but long-term worries remain – Reuters

DETROIT (Reuters) – Auto parts suppliers across North America said they are encouraged as major automakers accelerate production after coronavirus pandemic shutdowns, but are holding back on hiring and investment because of longer-term uncertainty. U.S. automakers reopened most assembly plants in late May after states began loosening restrictions, and stronger-than-expected retail auto sales in May have automakers ramping up production of the highly profitable trucks and SUVs consumers are buying. However, several auto suppliers interviewed by Reuters worry about demand heading into 2021. U.S. and global auto sales are not expected to recover to pre-COVID-19 crisis levels until 2022 …

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