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However, firms were confident about their prospects, with optimism amongst Welsh firms outstripping the UK average.
Director Dominic Gardner said: "Demand has been growing for our vehicles, to such an extent that it was close to outstripping our capacity to produce them.
UPSURGE: Humming-bird hawk-moths had their best year on record in the UK, with Butterfly Conservation receiving 9,000 reports of sightings, outstripping the previous record of 6,500
Rush is on: Demand for homes is outstripping supply.
The petrol prices have doubled, the water bills are outstripping the pension increases 10 times over, and when you work it out the pensioners are being crucified.
A recycle-content grade, Petra 7330, offers 240,000 cycles, also far outstripping conventional performance.
This one is the product of over capacity and supply outstripping demand.
A survey of hiring for more than 20,000 executive and senior management positions revealed overall demand grew by 26%, outstripping 1998's gain of 19%.
The amount of data to be processed is outstripping processing power, even as processing power adheres to Moore's Law.
Crude oil prices are at a three-year low, with global supply outstripping demand," he says.
For decades, astronomers have pondered how cosmic rays acquire their enormous energies, which can exceed 1,000 trillion electron-volts, far outstripping the energy produced by any particle accelerator on Earth.