© Reuters. FILE PHOTO: Engine casting blocks, used in quite a lot of General Motors automobiles, vehicles and crossovers, transfer down the meeting line on the GM Romulus Powertrain plant in Romulus, Michigan, U.S. August 21, 2019. Rebecca Cook/File Photo
DETROIT (Reuters) – General Motors Co (NYSE:) strengthened relations with its suppliers final 12 months regardless of the impression of the COVID-19 pandemic and the worldwide semiconductor chip scarcity, in accordance with an annual North American survey launched on Monday.
The No. 1 U.S. automaker improved its rating in consulting agency Plante Moran’s annual Working Relations Index by 20 factors to 289, transferring it nearer to annual leaders Toyota Motor (NYSE:) Corp (347 factors) and Honda Motor Co (316 factors), each of which noticed their scores go up barely. (https://
The annual survey measures belief and communication suppliers have with prospects, one thing that interprets to raised pricing, and supplier willingness to speculate in and share new applied sciences with automakers.
“The industry went through a trial by fire this past year, but seeing the positive results for four of the six automakers was a surprise in many ways,” Dave Andrea, principal in Plante Moran’s automotive observe, mentioned in a press release. “Typically, a crisis is not the time to improve established relations.”
GM Vice President of worldwide buying Shilpan Amin mentioned in a separate assertion the survey outcomes present the corporate’s efforts to strengthen supplier ties.
“This provides many important benefits, including stronger business results for both GM and the supply base, along with supplier willingness to invest in new technology,” he mentioned.
Ford Motor (NYSE:) Co noticed its rating drop 15 factors to 249, whereas Fiat Chrysler (FCA), previous to its merger with France’s PSA to create Stellantis earlier this 12 months, noticed a 28-point decline to 170. FCA completed final behind Nissan (OTC:) Motor Co, which noticed a 21-point enchancment to 211.
Tesla (NASDAQ:) Inc doesn’t take part in the Plante Moran study.
The annual survey was carried out from mid-February to mid-April, drawing responses from 728 salespeople at 479 suppliers that symbolize about half of the six automakers’ annual purchases, Plante Moran mentioned.
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