Frankfurt, Germany – Freudenberg Sealing Technologies (FST) is optimistic about the prospects of automotive industry, despite a significant market downturn over the recent months.
In a 17-Sept Q&A on the occasion of Frankfurt Motor Show IAA 2019, FST chief executive Claus Moehlenkamp said he believed the industry is “far from a steep drop at this point.”
“Every leading authority on the auto industry is aware that we have experienced a continuous upswing in the auto sector since the end of the financial crisis ten years ago,” Moehlenkamp pointed out.
It should be "no surprise to anyone" that the cycle would come to an end at some point, he went on to add.
“We are at the level of 2015 – we can easily handle fluctuations in volume of this kind,” said the CEO.
According to Moehlenkamp, FSt’s investment plans are “totally unaffected” by the automotive slowdown.