The auto industry is revved up, and 2016 will be another strong year for car and truck sales. So says BorgWarner CEO James Verrier.
BorgWarner (BWA) is a global automotive industry components and parts supplier based in Auburn Hills, Mich. It is best known for its powertrain products that are used by nearly every automaker, including Ford Motor (F), General Motors (GM), Fiat Chrysler (FCAU), and Toyota (TM).
“I think the industry is healthy. I think it’s growing and I think it’s robust,” Verrier tells Fortune’s Susie Gharib. He is particularly encouraged by the buying activity of consumers in an era where automakers are not offering incentives, discounts, or subsidies.
And he says he’s “upbeat on China.” Despite many gloomy reports about a slowdown in China’s economy, Verrier says the Asian nation is still “a very, very good market.” In fact, he expects vehicle sales to be up as much as 6% in China this year. And though he admits that the pace of growth in China is slower than two years ago, he notes “that growth is off a base of over 20 million vehicles a year.”