Confidence Wavers Among Aftermarket Leaders

Results of the joint Business Confidence Index for February 2011 show that aftermarket business leaders were roughly twice as confident in the future of the automotive aftermarket over the next 12 months than they were regarding the economy in general, reports AAIA and Northwood University.

AAIA said the data shows that:

• 72% were slightly more confident in the aftermarket over the next 12 months, up from 50% in January. Only 13% of respondents were significantly more confident about doing business in the aftermarket over the next 12 months, a decrease from January’s 21%.

• Only 8% were significantly more confident in the economy over the next 12 months, an increase from 4% in January. Another 41% reported being slightly more confident about the economy over the same period, down 13% from January.

• A score of 51-100 on the index signals leaders are “significantly more confident” in the aftermarket or the economy respectively over the next 12 months, while a score of 1-50 indicates they are “slightly more confident” in said areas over the next 12 months.

Aftermarket business leaders were less confident in the economy as a whole in February as the AAIA/Northwood University Economic Confidence Index fell from 22.4 to 12.8. The overall AAIA/Northwood University Automotive Aftermarket Business Confidence Index for the month was 29.5, leaving aftermarket leaders in the middle of the “slightly more confident” range.

“It is clear aftermarket leaders had less confidence in the industry in February relative to January of this year,” said Dr. Timothy Nash, Northwood University. “It is also obvious that business leaders were less confident in the overall economy in February relative to January. Both the AAIA/Northwood University Automotive Aftermarket Business Confidence Index and the AAIA/Northwood University Automotive Aftermarket Economic Confidence Index were positive again in February, but mirror concerns that many economists have that the general economy could be slowing down.”

GRI recently conducted programs in Sri Lanka to empower women and motivate children under its Green x Circle initiative. The company said these endeavors aimed to address the needs of the community, focusing on both women empowerment and youth motivation.

GRI recently organized a training program titled "Management of household finance under current economic conditions" at the Ingiriya Rubber Collecting Center in Sri Lanka, South Asia led by Shashika Nimali, an NLP practitioner and life coach. The company said this initiative provided women in the industry with essential skills and knowledge to effectively manage household finances. GRI's tailored training sessions equipped participants with tools for informed decision-making, ultimately fostering greater financial security and independence, the company said.