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Grand Valley State University hosted its 23rd annual Automotive Suppliers Symposium

Chevrolet Bolt EV at the General Motors Orion Assembly plant, Mich.
Duane Burleson
/
Associated Press
Chevrolet Bolt EV at the General Motors Orion Assembly plant, Mich.

"New Age of Auto" the theme.

The Van Andel Global Trade Center at Grand Valley State University hosted its 23rd annual Automotive Suppliers Symposium. This year’s theme, the “New Age of Auto.”

The electrification of the automotive industry is underway.

“And how that’s changing the strategic dynamics for suppliers and trying to navigate where they want to be, not just this year and next year, but in five years, 10 years, 20 years.”

Ongoing supply chain issues and computer chip shortages are hampering the EV transition. COVID pandemic-induced challenges compounded by Russia’s invasion of Ukraine leading to economic sanctions sending gasoline prices to historic levels adding to the mix. But as Mike Wall, automotive analyst with S&P Global says suppliers and manufacturers are becoming nimble whether it’s EV or internal combustion engine production. Everyone involved is getting more creative building vehicles.

“They’re building vehicles maybe partially, you know, with maybe a component or two missing until they get that. They’re prioritizing those in a different area of the facility when those components come in they finish that production. So, they don’t outwardly lose that volume. They really don’t want to lose production. You want to try to build as much as you can when you can. And the dealers are doing a good job frankly, of selling off the truck. As crazy at that sounds. And selling off not only the current truck, the next two trucks that come in of vehicles, and we as consumers are having to become more adjusted to that.”

Two years of below average sales has created pent-up consumer demand. While inflation pressures will weigh on demand, Wall forecasts this year between 15.2 and 15.5 million U.S. light vehicle sales.

Patrick joined WGVU Public Media in December, 2008 after eight years of investigative reporting at Grand Rapids' WOOD-TV8 and three years at WYTV News Channel 33 in Youngstown, Ohio. As News and Public Affairs Director, Patrick manages our daily radio news operation and public interest television programming. An award-winning reporter, Patrick has won multiple Michigan Associated Press Best Reporter/Anchor awards and is a three-time Academy of Television Arts & Sciences EMMY Award winner with 14 nominations.