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2022 Outlook – Q&A with Yanfeng
2021 was one other memorable yr for everybody and for all types of causes. We had a bumpy restoration from the worst of the COVID pandemic, however the automotive business was additionally hammered by a scarcity of semiconductor elements. In your corporation, what stand out as the largest challenges you confronted over the previous yr?
The key international challenges in our automotive enterprise and the present business atmosphere are unchanged. Like each provider within the business, we had been impacted by buyer downtime, program delays or shutdowns of their crops on account of semiconductor shortages. Most automobile volumes throughout Europe are diminished.
From a supplies and logistics perspective, the business is navigating file excessive freight prices (containers aren’t accessible or very costly), rising power prices and the pricing and availability of supplies (particularly resins).
Any excessive spots or specific successes you’d prefer to share?
As an organization, we now have mastered the challenges collectively this yr and, most significantly, we now have additionally made good progress with our globalization efforts for our Seating and Security Programs companies in Europe and North America. We efficiently accomplished the development of recent manufacturing websites in Serbia and Mexico. With our new Seating and Security operations in Kragujevac, Serbia, which is able to go into manufacturing from the 2nd quarter, 2022, we’re responding to market demand and increasing our seating and security product portfolios into Europe for the primary time.
I began my project for Yanfeng within the European area eight months in the past. It has been for me personally the best problem and a singular alternative to work collectively throughout the variety of cultures of our Europe and South Africa area to help our prospects. Trying again over the previous months, I’m pleased with our staff that was at all times prepared to go the additional mile and do no matter it took to help prospects and guarantee supply even underneath probably the most difficult circumstances on this pandemic. Supporting our prospects whereas persevering with to drive our international enterprise ahead throughout all markets by the continued pandemic was not a straightforward train however we managed it efficiently and can proceed to take action.
How are you feeling about 2022 – each by way of enterprise prospects and extra usually?
Primarily based on what we’re seeing in business forecasts, the semiconductor scarcity will proceed to affect the business within the first half of 2022. Provide chains may even proceed to face main challenges subsequent yr, within the areas of metal, aluminium and plastic resins. Costs are rising, which is able to have an effect on all market gamers. Logistics prices are additionally on our radar display screen. I hope that this can return to regular. Previously, we had labored in a fairly secure system during which prices had been simpler to forecast.
I additionally see causes for optimism. I’m optimistic that we are going to constantly drive ahead our transformation and our globalization in addition to speed up our international enterprise and footprint growth. We are going to concentrate on digital know-how integration in core merchandise and new companies and help our prospects on this. Early buyer engagement and co-development are important for our enterprise success however I’m assured that we’re in an excellent place as we collaborate effectively with our key prospects in all our areas.
Sustainability is one thing that’s rising in significance. We’re on monitor with all our initiatives regarding social, environmental and financial duty for our firm and our provide chain. We proceed to combine sustainability into our merchandise, processes and services.
Is something rising as a selected concern by way of the outlook?
The continued pandemic is one thing that considerations me – particularly the rising incidence of COVID in Europe. Each time we felt like we had been again to regular, each within the automotive business and in our private lives, there was a problem. If different waves or variants occur and restrictions return, that will be difficult for us as a provider but additionally for our prospects.
The inflation fee in Europe, and in Germany specifically, can also be one thing we now have to keep watch over.
Do you’ve a message for Simply Auto’s readers?
With the present pandemic scenario, evidently the world is smaller than ever earlier than. Occasions are powerful and unsure for everybody. Even when we are able to’t bodily meet or journey wherever now, we are able to collaborate and meet folks just about all over the place. All of us must reside with COVID, and we can accomplish that. World crises have occurred many occasions prior to now. In the event you have a look at them retrospectively, the world has at all times modified for the higher in consequence.
It might take a while to get better from them, however crucial factor is to focus in your skill to take care of a path ahead. Keep optimistic and discover artistic methods to show hurdles into alternatives. All of us discovered rather a lot in the course of the pandemic and are nonetheless studying and may come out of it stronger. Use this to enhance your life and the lives of others, and to be beneficiant and type.