North American automakers must trust suppliers if they hope to reduce staggering warranty costs, while suppliers need to shape up to ensure their own survival, warns Freudenberg-NOK Chief Executive Joseph C. Day. The Big Three sold about 12 million vehicles last year, but spent about $6 billion on warranty costs, Mr. Day tells the Detroit Economic Club. “You do the math,” he says of the $500-per-vehicle expense. “Perhaps the industry should move its focus away from confrontational ...
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