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2022-11-15

New Vehicle Sales Increase 33% in September

SOUTHEAST ASIA: 6 MAJOR COUNTRIES REPORT

New vehicle sales in the six major Southeast Asian countries totaled 317,765 units in September, up 33% from the same month last year. The figures were compiled from new vehicle sales statistics released by automobile industry associations and other organizations in each country. This is the 12th consecutive month that sales have exceeded those of the same month last year; the economic recovery from COVID-19 continues, with sales up 8% compared to September 2019, even before the spread of the infection.

Indonesia, the largest new vehicle market in the region, saw a 19% y/y increase to 99,986 units. This was the highest single-month sales volume in 2022. The tax exemption for some models ended at the end of September, and there appears to have been a rush demand for new vehicles.

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2022-12-14

Alternative Power Report, December 2022

AlternativePower Report_December2022Download

Read the expanded December 20222 Alternative Power Report produced by PSR’s Guy Youngs and other analysts at Power Systems Research. This month’s report includes articles on increased battery production in the US., Tesla’s plans for a recycling plant in Texas, increased merger activity in the EV Light/Medium commercial vehicle segment and new power sources being developed for cargo ships.

2023-03-26

Cummins Agnostic ICE’s and Hydrogen Fuel Update

NORTH AMERICA REPORT
Chris Fisher
Chris Fisher

Cummins plans to introduce their agnostic ICE engine platforms with testing to begin in 2024 and series production to start in the 2026/2027 timeframe.  The engine platforms use a common base engine.  Below the head gasket the engines will mostly have similar components and above the head gasket the engine will have different components for different fuel types.  The new platforms will include the B6.7, X10 and the X15 engines.  The X10 will ultimately supersede the current L9 and X12 engine platforms.  

In North America, Cummins plans to introduce the agnostic engine platforms starting in 2026.  Diesel and natural gas will be the first fuel types introduced and hydrogen versions will soon follow.

Sources:  FleetOwner  Cummins X Series Agnostic Engines  Cummins Agnostic Overview

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2023-05-21

Cummins To Invest $1 Billion in US Hydrogen Fuel Network

Cummins has announced that in addition to the recent investments it has made in its Fridley, Minn., plant, it will also invest more than $1 billion across its US engine manufacturing network in an effort to support the transition into hydrogen fuel.

The investments are being made in Indiana, North Carolina and New York. The $1 billion is intended to provide an upgrade of facilities supporting the first “fuel-agnostic” engine platforms in the industry. The fuel-agnostic concept refers specifically engines that can use different types of fuel, especially a variety of low-carbon and zero-carbon fuels.

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2023-05-24

Show Report: Agrishow 2023

BRAZIL/SOUTH AMERICA REPORT  
Fabio Ferraresi
Fabio Ferraresi

Our Power Systems Research South America Team visited the Agrishow 2023, in Ribeirão Preto-SP, Brazil, visiting customers and checking the new launches and market expectations. It’s the world’s largest show on Agricultural Equipment       

The general expectations of exhibitors we talked with were not positive. Exhibitors carefully spoke about some factors influencing the market, such as lower commodities prices and the new government often speaking against Agribusiness that does not promote positive investment decisions.

On the other hand, the projections of business during the show surpass US$ 2,6 Billion (R$ 13,2 Billion), that is 18% nominal growth over 2022 business and actual growth of 9.5% discounting inflation. The expectation is for a recovery in commodities prices in 2H 2023. The government is also announcing more credit for this segment and OEMs are offering their own credit lines.

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Show Report: Hannover Messe 2023

EUROPEAN REPORT 
Guy Youngs
Guy Youngs

General Observations. The core topics at HANNOVER MESSE included artificial intelligence, hydrogen, energy management, connected and intelligent production, and the new Manufacturing-X data ecosystem.

More than 4,000 exhibitors presented their solutions and welcomed 130,000 visitors from around the globe. There seemed to be a very large Chinese contingent at the show (both as visitors and exhibitors), as well as a large number of local governments, universities and startups. There seemed to be a predominance of exhibitors showing bearings, copper fittings, cables and components as well as systems / electronics companies.

There was also a large number of independent robots in evidence, ranging from robotic dogs and robotic servers to robotic messengers following pre planned routes.

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2023-06-19

Hino Motors and Mitsubishi Fuso To Merge

FAR EAST: JAPAN REPORT

The announced reorganization of several commercial vehicles companies came suddenly and was one that few in the industry expected.

On May 30, Toyota Motor Corporation and Daimler Trucks of Germany announced a business merger between Toyota-owned Hino Motors and Daimler-owned Mitsubishi Fuso Truck and Bus Corporation. The merger is expected to be completed by the end of 2024.

The four companies have reached a basic agreement that calls for Toyota and Daimler to establish a holding company by the end of 2024 with the aim of going public. Hino Motors and Mitsubishi Fuso will become part of the holding company. Toyota and Daimler will hold the same percentage of shares in the holding company, and Hino Motors will cease to be a consolidated subsidiary of Toyota after the merger.

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2023-08-21

PSR Participates in SAE Brazil Mobility Forum

For the fifth consecutive year, Power Systems Research (PSR) will participate in the 20th SAE Mobility Forum in Curitiba-PR. This year’s event will be held Sept. 12and 13 at FIEP (Paraná State Industries Federation) auditorium.

This Forum brings together the most important companies in the Medium Heavy Vehicles and Off Highway Vehicles in Brazil. Originally, the event was called “Diesel Forum,” but with the new technologies of propulsion in the key segments covered by the forum, it changed its name to “Mobility Forum” in 2020. PSR Senior executives in South America are frequent speakers at the event, and support high level discussions on future trends and current challenges. PSR

Source: PSR / SAE Brazil     Read The Article

2023-10-23

Global Economy Seeing Modest Growth with Positive Outlook

GLOBAL REPORT
Jim Downey

SUMMARY. Many factors are pointing to modest growth in Q3 2023. This should lead to total production globally growing at +2.4% in 2023 vs 2022 (it was 2.6% in Q2 2023), and the outlook for the next few years remains positive with growth accelerating from 2025.  Apart from Russia and Ukraine, the main countries to show a decline are South Korea, Slovakia, Netherlands. However, the segment picture shows some differences.

Several drivers are influencing the global economic picture.

  • Fuel prices eased earlier this year, recently they have grown slightly and are no longer showing signs of easing. This remains a serious issue.
  • Supply chains remain constrained and show no signs of improving.
  • The war in Ukraine shows no sign of a speedy conclusion, despite recent successes by Ukraine.
  • Ukrainian exports of wheat, other grains and fertilizer have declined massively following Russia’s ending on the Grain Deal. Alternative routes (overland, and via the Danube) simply don’t have the necessary capacity.
  • Inflation is easing, but it continues to be a major concern for central banks as they consider raising their interest rates. This will pose a risk to economic growth in all regions. Inflation and price increases are putting OEMs in a difficult situation.
  • Risk of recession continues in the background for several countries, notably China, USA and Germany, and this could drag other countries into recession.
  • Covid is still lingering with global deaths now at over 6.9 million, and a new variant has the medical world concerned.
  • Latent demand for machinery keeps building, which is a positive sign.
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2023-11-16

Kubota and Sumitomo Plan Mutual Supply of Equipment

JAPAN REPORT
Akihiro Komuro
Akihiro Komuro

Kubota Corporation and Sumitomo Construction Machinery Co., Ltd. said they have begun discussions regarding the mutual supply of construction equipment.

Internationally, the growing demand for housing and the expected increase in construction work related to infrastructure investment and urban development, plus the increasing shortage of construction labor, are expected to create strong demand for construction equipment to improve efficiency and reduce labor requirements.

Kubota develops, manufactures, and sells small construction equipment used in urban construction, while Sumitomo Construction Machinery specializes in medium and large construction equipment used in a wide range of civil engineering and forestry work.

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