Are we seeing the car industry’s ‘green shoots of recovery’?

The bosses of Ford and Honda seem to think so.

Well, almost. Honda CEO Takeo Fukui has said that he reckons the worst is over, and that global car markets will begin to pick up during 2009. Bill Ford has also been making some optimistic noises, saying that his company could return to profit by 2011.

Honda predicts recovery

Ford expects a profit in 2011

Okay, so these words are coming from companies that aren’t exactly deep in trouble to begin with – Honda recently posted a near-£1bn profit, while Ford is the only one of the US ‘big three’ not to seek help from the US government – but any good news is, well, good news.

The global automotive industry crisis is no doubt far from over, and there will surely be a lot more pain – for car companies and their employees – still to come before things get better, but it seems as if the end may be in sight.

Technorati Tags: ,