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Make a press release for RESULTS FOR SECOND QUARTER ENDED JUNE 30, 2022  for MONTGOMERY AUTOPARTS based on the following facts and summary data:
 Facts:
Montgomery Autoparts Inc., is one of the largest auto parts supply companies in Canada. It provides braking, ignition and auto transmission components to automobile manufacturers in central, southern and south western Ontario.
Montgomery is facing:
The impact of the inflation-based global economic slowdown which has damaged consumer confidence in North America and globally
Drop in sales of automobiles in all major national and international markets brought on by the high inflation rates in Canada, the U.S. and Europe.
The impact of the inflation-ravaged economy on the North American automobile industry which has forced manufacturers to cut back on operations in the face of a dramatic drop in demand for cars, SUVs and other vehicles.
Consumer perceptions that auto manufacturers have mismanaged their businesses and have misjudged demand by not cutting manufacturing capacity quickly enough to adjust to tough economic conditions.
The withdrawal of easy consumer credit by banks and other lenders who are worried about consumers' ability to deal with the financial pressures that borrowing can create.
A shift in demand to automobiles that are more fuel efficient and moderately priced.
A slow recovery that continues to dampen confidence that the economy will grow strong enough to create the jobs needed to support strong consumer spending.
An environment where investors are very cautious about the prospects of the automotive industry and the companies supplying it.
Include quotes from President and Chief Executive Officer - Roman Jovanovic, Montgomery Autoparts Inc. in your press release.

Expert Answer

Make a press release for RESULTS FOR SECOND QUARTER ENDED JUNE 30, 2022 for MONTGOMERY AUTOPARTS based on the following facts and summary data: Facts: Montgomery Autoparts Inc., is one of the largest auto parts supply companies in Canada. It provides braking, ignition and auto transmission components to automobile manufacturers in central, southern and south western Ontario. Montgomery is facing: The impact of the inflation-based global economic slowdown which has damaged consumer confidence in North America and globally Drop in sales of automobiles in all major national and international markets brought on by the high inflation rates in Canada, the U.S. and Europe. The impact of the inflation-ravaged economy on the North American automobile industry which has forced manufacturers to cut back on operations in the face of a dramatic drop in demand for cars, SUVs and other vehicles. Consumer perceptions that auto manufacturers have mismanaged their businesses and have misjudged demand by not cutting manufacturing capacity quickly enough to adjust to tough economic conditions. The withdrawal of easy consumer credit by banks and other lenders who are worried about consumers' ability to deal with the financial pressures that borrowing can create. A shift in demand to automobiles that are more fuel efficient and moderately priced. A slow recovery that continues to dampen confidence that the economy will grow strong enough to create the jobs needed to support strong consumer spending. An environment where investors are very cautious about the prospects of the automotive industry and the companies supplying it. Include quotes from President and Chief Executive Officer - Roman Jovanovic, Montgomery Autoparts Inc. in your press release.

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