Which of the following is considered an external factor for the automotive industry?

The correct choice is centered around the concept of external factors that influence the automotive industry, which includes elements outside of a company's control. Global economic forecasts predicting a recession are a significant external consideration because they can affect consumer spending, financing availability, and overall industry demand. When economic conditions are predicted to worsen, consumers may delay purchases of new vehicles, impacting sales for automotive companies.

In contrast, changes in company leadership or internal production efficiency are internal factors, as they pertain directly to a company's operations and decision-making processes. Stock market performance can be seen as more ambiguous, as while it reflects investor sentiment, it doesn't directly impact the operational aspects of the automotive industry in the same way that broader economic forecasts do. Therefore, global economic forecasts that predict a recession provide crucial context for understanding external pressures on the industry, making it the most relevant choice in this scenario.