Industry News | Power Systems Research

2024-09-23

Electric Boats at 2024 Cannes Show

SHOW REPORT

For more information on the marine market, visit MarineLink, the Power Systems Research proprietary marine products database.

More than 600 exhibitors from the marine pleasure industry showed off their latest models of boats, yachts, marine equipment and other products and services at the 47^th annual Cannes Yachting Festival, Europe’s biggest in-water event, just closed its doors. The event ran Sept. 10-15.

An estimated 50,000 visitors attended the festival and got an excellent note for organization from all participants and visitors. The next year’s edition will be held Sept. 9-14, 2025.

The electric marine market has been very dynamic in the last 10 years and electric products and accessories were very popular at the show. Investments in research and development of new technologies and their implementation into boats have been extremely high.

Malaysia H1 2024 Car Sales Gain Ground

Akihiro Komuro

MALAYSIA REPORT

New vehicle sales in the six major Southeast Asian countries in the first six months of 2024 fell 9% year-on-year to about 1.49 million units, the lowest level since 2021, when they were battered by COVID-19. Malaysia, which has benefited from strong domestic demand, is closing in on Indonesia, the largest market in the region.

Malaysia grew by 7% to 390,296 units. Sales growth was driven by strong domestic demand linked to economic growth. Sales of domestically produced small cars such as the Proton and Produa were particularly strong. In contrast, sales in Indonesia, the region’s largest market, fell 19% to 408,012 units due to a decline in the use of car loans and other factors caused by high policy interest rates. Thailand was down 24% to 308,027 units; Vietnam was down 2% to 134,884 units and the Philippines was up 10% to 227,225 units.

2024 CARB ACT Impacts Truck Sales

Chris Fisher

NORTH AMERICA REPORT

The article shown here is starting to give us some insight as to how the 2024 CARB ACT regulations are playing out in California and what the other states who plan to adopt these regulations can expect upon their implementation. It is a bit of a long read but very insightful of what the truck dealers are currently experiencing.

Information is beginning to trickle out about sales requirements for commercial truck dealers in California that will soon extend to other states committed to implementing the California Air Resources Board’s (CARB) Advanced Clean Trucks (ACT) and low-NOx Omnibus regulations.

Global Snowmobile Market Forecast for $2.42 Billion

Michael Aistrup

The Global Snowmobile Market size was valued at $1.62 billion in 2023, according to Power System Research, and is estimated to register a CAGR of 5.1% between 2023 and 2031 with a projected market value of $2.42 billion in 2032.

Source: Power Systems Research

North America Is Major Snowmobile Market

According to the International Snowmobile Manufacturers Association (ISMA), 82% of snowmobile sales are in North America.

Source: Power Systems Research

Deutz and Rolls Royce Engine Deal Approved

Emiliano Marzoli

EUROPE REPORT

DEUTZ and Rolls-Royce’s Power Systems division have completed the transaction for DEUTZ to take over the sales and service activities for various Daimler Truck industrial engines. The transaction relates specifically to engines with displacements from 5 to 16 litres and power output of up to 480 kW.

Under the completed transaction, DEUTZ will take over distribution of the MTU Classic model series and the MTU 1000 to 1500 engine series, which are based on three Daimler Truck engine platforms. These engines are used in a range of off-highway applications, mainly in the agricultural machinery and construction equipment sectors.

Brazil Heavy Duty Trailer Sales Remain High

Fabio Ferraresi

The Brazil Heavy Trailers sector continues its upward trend in registration, with a 5.6% increase in sales during the first seven months of the year, compared to the same period in 2023.

According to data from the National Association of Road Implements Manufacturers (Anfir), 89,880 units were registered between January and July.

2024-07-15

PowerTALK™, July 2024

Joe Delmont

IN THIS ISSUE

Western countries–United States, Europe and Canada–are placing tariffs on low-cost Chinese EVs and Beijing doesn’t like it. Read about the EV tariff controversy in the July 2024 issue of PowerTALK News. Also in this issue are articles on the global motorcycle market, North American scooter production and Hitachi’s demonstration of a huge EV mining truck.

ALTERNATIVE POWER REPORT

EV Sales Are Headed for Long-Term Growth
Research Offers Environmentally Friendly Lithium Production
EU Tariffs Hit Chinese EVs, Draw Reaction from Beijing
Canada Considers Tariffs on Chinese EVs

GLOBAL:

2024 MHCV Production Expected To Decline by 1.6%
2024 Global Motorcycle Market Estimated at $144 Billion

DATAPOINT: NA Scooter Production

EUROPE:

Belgium Risks Losing Audi Car Production in Brussels
Electric/Hybrid Marine Event Shows New Technologies

BRAZIL/SOUTH AMERICA:

Brazil Truck Production Grows Significantly
Brazil’s Frasle Mobility To Buy Dacomsa for $389 Million

JAPAN: Hitachi Demonstrates Ultra-Large Electric Dump Truck
THAILAND: Honda To Cut Thai Car Production Capacity by 50%
CHINA: Chinese Joint Venture Begins Battery Plant in Mississippi
INDIA: Bajaj, TVS Enter CNG Two-Wheeler Market PSR

EU Tariffs Hit Chinese EVs, Draw Stern Words from Beijing

Guy Youngs

The European Commission told automakers (July 11, 2024) it would impose extra duties of up to 38.1% on imported Chinese electric cars starting in July 2024, risking retaliation from Beijing, which called the move protectionist. Less than a month after Washington announced plans to quadruple duties for Chinese EVs to 100%, Brussels said it would set additional tariffs ranging from 17.4% for BYD to 38.1% for SAIC, on top of the standard 10% car duty. It said this was to combat excessive subsidies

it’s worth noting that commercial EV sales are soaring. PSR

Source: Reuters (via MSN): Read The Article

PSR Analysis: On the face of it, this seems like the start of a trade war with Chinese automakers demanding retaliatory tariffs on European cars, however several EU member states have already started to back track (led by Germany) so it remains to be seen as to what the eventual outcome will be.

Guy Youngs is Forecast & Adoption Lead at Power Systems Research

News: Industry News