FRANKFURT Germany—Freudenberg Sealing Technologies is optimistic about the prospects of the automotive industry, despite a significant market downturn over the recent months.
In a Sept. 17 Q&A conducted during Frankfurt Motor Show IAA 2019, FST CEO Claus Moehlenkamp said he believed the industry is "far from a steep drop at this point."
"Every leading authority on the auto industry is aware that we have experienced a continuous upswing in the auto sector since the end of the financial crisis ten years ago," Moehlenkamp said. It should be "no surprise to anyone," he added, that the cycle would come to an end at some point, he went on to add.
"We are at the level of 2015," Moehlenkamp said. "We can easily handle fluctuations in volume of this kind."
According to Moehlenkamp, FST's investment plans are "totally unaffected" by the automotive slowdown.