Delphi Automotive Might Bring Back Manufacturing Jobs But For Robots
Delphi Automotive has been named as one of the companies that will be assured of growth as the automotive industry continues on the path of automated vehicles. The company, which prides itself as a leading global supplier of technologies for automotive and commercial vehicles has plans to bring manufacturing to the United States from Mexico. However, it seems like the work will be automated. Unfortunately, job opportunities cannot be really expected from this.
Company Chief Financial Officer, Joe Massaro, says that automated manufacturing processes can be seen coming back or specifically coming to the U.S. Apparently, 90 percent of the Delphi's employees are in what is called "best-cost countries". For the company, it means that it can continue to securing high profits while keeping costs low. This is according to the CFO who mentions that automated-type manufacturing would be the way to go given the labor (cost) differential.
Furthermore, Massaro says that the potential "border adjustment tax" on goods may affect all imported goods, not just the items that will come from Mexico. Delphi's cost of sales value for imported material into the United States is at around $4 billion while the majority of that is out of Mexico with a good annual $3.5 billion.
Before the Delphi Automotive PLC makes any moves, the company is still waiting for updates regarding the trade policies handled by the current United States Trump administration. However, changes in the manufacturing set-up are still to be expected says the financial officer during the same day of the conference call where the company revealed its financial results with the analysts.
The company reported a fourth-quarter profit of $1.83 per share, a bit different from the expected $1.60 per share by Wall Street analysts excluding one-time items. Shares instantly skyrocketed to 3.1 percent at $72.90 during Thursday's trading.
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