In July 2019, 92,000 motorcycles were produced in Brazil, up sharply from the 68,000 units produced in June 2019. January to July production was 629,000, 6.3% above the 592,000 units produced in the same period of 2018.
VWCO reported exports of 2527 trucks and buses from January to April 2021, versus 1084 units in the same period of 2020. Most of the growth came during April; the month was very negatively affected by the pandemic in 2020.
Source: Automotive Business Read The Article
PSR Analysis: As with other OEMs, the export volumes of VWCO have been better than expected considering only Q1 2021 vs. Q1 2020, period without pandemic effect in 2020. During our forecast planning in Q4 2020, we expected a lower recovery of exports because of a slower recovery from the pandemic effects in 2021. However, the currency depreciation in Brazil, and special variables in each market caused the positive effect. PSR
Fabio Ferraresi is Director, Business Development-South America, for Power Systems Research
The development trend for the new energy vehicle (EVs) market remained positive through 2022. In November, retail sales of new energy passenger vehicles reached 598,000 units, with a year-on-year growth of 58.2%. From January to November, the domestic retail sales of new energy passenger vehicles were 5.03 million units, with a year-on-year growth of 100.1%.
As for December, the Passenger Transport Federation believes that the subsidy for new energy vehicles will decline by 12,600 RMB this year, which is much more than the decline of 5000 RMB in the previous two years. In addition, some vehicle enterprises have announced a price increase for next year, which may promote strong pre-buying of new energy vehicles at the end of the year and boost sales.
This year, the new energy vehicle market is expected to achieve the annual sales of 6.5 million vehicles.
India’s auto industry has slid back to the level of nearly a decade ago due to multiple regulatory changes, a slowing economy, liquidity issues, and the COVID-19 pandemic.
The auto industry has shown signs of recovery over the last couple of months; however, an additional demand push is required to generate sustainable growth. The government is evaluating a series of possible measures such as a revision in the goods and services tax (GST) rate and a production-linked incentive and scrapage policy.
GST Revision: The GST council is evaluating an industry 10% GST cut across categories of vehicles.
This GST revision will defiantly neutralize the impact of the price hike due to BS-VI upgradation. Further, this GST revision will give a strong thrust to auto sales during the coming festive seasons.
2021’s festive period from Navratri to Diwali (October) marked the worst performance for India automakers in nearly a decade. Usually, sales of PVs peak during the period, however, the demand was much lower this year.
Further, two-wheeler and tractor sales dropped by about 10%. The major reason for this drop is supply-side challenges on semiconductors and lack of demand in entry-level segments for both PVs and two-wheelers.
In the commercial vehicles space, the situation was somewhat better with an increase in demand for interstate movement of goods.
The commercial industry will grow with trucks and buses expected to do well. Truck sales will improve as many industries require more units as they are running at full capacity
The Indian economy managed to revive itself during the first and second COVID waves and quickly achieved a V-shaped recovery.
This year, GST is reaching high levels. GST collection has witnessed a growth of 26% YoY – YTD CY22. Furthermore, the generation of e-way bills is increasing rapidly. The generation of e-way bills is directly proportional to truck utilization and drives vehicle demand.
This year’s festive season fired up vehicle registrations but failed to match 2019 sales numbers. Vehicle sales, which peak during the festive season in India, account for about 40% of annual volume. Sales in the just-concluded season this year were better than in the past two COVID years but were far below the sales level of 2019.
“Auto Retail for October 2022 saw an overall growth of 48%,” said Manish Raj Singhania, president of FADA. With most of the month under the festive period, the sentiments were extremely positive across all categories of dealership outlets.”
Source: Economic Times Read The Article
The year 2020 started very well for pleasure boat builders across the Europe but it was battered in mid-year by COVID-19. The Dusseldorf trade show, Boot, held at the end of January, ended with a positive outlook and promising results for 2020. Order books were full, thanks to the great boating mood created in previous years.
The unexpected and violent Covid-19 storm came up in March. Nobody was prepared to face the challenge. Builders had to stop production or to reduce their capacities to a minimum during April and May. Production schedules had to be reorganized according to security measures imposed by the local governments.
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