BILBAO, Spain -- The era of automakers squeezing every last cent in cost reductions from suppliers is over, speakers told the Automotive News Europe Congress here last week.
Ignacio Martin, CEO of CIE Automotive, said automakers had asked his company to rescue suppliers that were in danger of collapse during the crisis to ensure there were no supply interruptions. "I never thought I would see that day," he said.
William Kozyra, CEO of TI Automotive, said that the crisis had caused automakers and suppliers to understand that they need to cooperate to survive.
The CIE and TI executives also said their companies had turned down potentially unprofitable business during the crisis.