Suppliers to the automotive industry are at a crossroads. On one hand, it’s hard to beat the lucrative volumes historically associated with the automotive sector. On the other hand, the industry is racked with significant order uncertainty. Disruptions caused by tariff complexities, weak consumer adoption of electric vehicles (EVs) and ongoing supply chain volatility are wreaking havoc on short-and long-term planning efforts.
One potential solution for some businesses is to diversify the revenue stream beyond the automotive market. The question is how to make that assessment appropriately.
