Fri 07/28/2023 10:15 AM
In part I
of our European auto sector review, we discussed the turnaround of the European automotive industry after five tumultuous years dominated by the Covid-19 pandemic.
However, the industry recovery has not translated into a full credit recovery for most of the issuers under our coverage. This is particularly true for suppliers lacking pricing power and relatively weak margins, such as Grupo Antolin or Standard Profil. Among original equipment manufacturers, or OEMs, McLaren’s...
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