It's still tough out there for suppliers, even as the crisis stage of COVID-19 fades into the background.
The pandemic and ensuing microchip shortage took quite an economic toll on parts manufacturers, which might be expected, although automakers and dealers reaped record profits.
Things are getting better for suppliers as the semiconductor supply improves and output becomes more routine and closer to full capacity.
Production rose 15 percent globally in the second quarter from a year earlier, said Nikolai Setzer, CEO of Continental. But he stressed to a group of reporters at the company's North American headquarters in Auburn Hills, Mich., last week that the positive numbers are mostly a reflection of the fact that China was still in shutdown mode a year ago.