Interesting take. Your comment on demand/supply coming into better balance is particularly insightful on Audi which benefitted from improved supply situation last year. Just some questions;
Won’t ECB starting to cut rates bring some optimism to consumers? Won’t they start spending more thinking better days are coming?
How reliable has S&P forecasts been? I just found out that they forecasted growth rate of 5.6% at the beginning of 2023, that’s almost 4% lower than the actual. Also, what has been the correlation between global light vehicle sales and Volkswagen deliveries. I noticed that Volkswagen deliveries outperformed global light vehicle sales by around 2% in 2023. I am not sure if the two are comparable.
What’s your probability of a recession occurring this year or next year?
Clarify for me your above statement on pricing, do you mean you expect pricing to stay high in 2024 and 2025?