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2022-11-16

Hydrogen Truck To Help Decarbonize Mining Industry

A new hydrogen fuel truck is being tested by the mining industry in hopes of helping to decarbonize activities that have been exceptionally challenging to mitigate. The mining industry contributes 7% of the world’s total carbon emissions per year, (according to McKinsey). This represents more than twice the carbon emissions from the global shipping industry, for example.

The hydrogen-powered vehicle is meant to replace typical mining haul vehicles, which pollute heavily.

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2022-12-14

U.S. Powersports Industry Grows in 2021

Michael Aistrup
Michael Aistrup

The U.S. Department of Commerce’s Bureau of Economic Analysis (BEA) has released economic data for 2021 showing the outdoor recreation industry’s impact on the U.S. economy. Key highlights from the 2021 data on the U.S. outdoor recreation economy include: 1. $862 billion in economic output; 2. 1.9% of GDP, and 3. 4.5 million jobs.

Trips and travel have come back, record sales in many outdoor segments, manufacturing increasing, as well as the drive to continue to recreate for quality of life has allowed the outdoor industry to bounce back from the effects of COVID-19.

“The continued strength of the outdoor economy is no surprise to the marine industry, where we continue to see incredible growth with new and younger customers taking to our brands each year,” said Chris Drees, President of Mercury Marine, the world’s leading manufacturer of recreational marine propulsion engines.

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2023-04-16

Global ICE Industry Cliff Is Here

This article includes an important graph showing vehicle production numbers between 2015 and 2026, (projected for 2023–2026) which are based on historic BEV growth data and trends. Hybrids are lumped in with ICE cars and are shown as a preference over full BEVs which is clear in the data.

The chart shows that the overall auto industry has declined from its peak in 2017–due to the pandemic and chip shortage–before it started to recover in 2021. This chart/model is conservative in predicting industry growth at 1.6% y/y going forward and BEV growth at 50% for 2023 (average BEV growth was 57% for the past 7 years)

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2020-02-25

New India Budget Disappoints Auto Industry

This article initially appeared in the February 2020 issue of PowerTALK News.

Source: Business Today   Read The Article

Ritvik Kulkarni
Ritvik Kulkarni

PSR Analysis: The Indian Automotive Industry was largely left disappointed with the budget after no direct steps were taken to arrest the decline in automotive sales. Although keeping long term benefits in mind, the budget did introduce measures to boost the rural economy, which in turn will directly benefit the commercial vehicle industry which is an important driver for the economy.

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2022-11-15

Cheering Festive Season for Auto Industry

INDIA REPORT

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

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2020-11-24

COVID-19 Hits European Pleasure Marine Industry

Natasa Mulahalilovic
Natasa Mulahalilovic

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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2020-02-25

Thailand Auto Industry Brakes Sharply

This article initially appeared in the February 2020 issue of PowerTALK News.

THAILAND–Vehicles produced in Thailand are exported to the world, including Asia, Oceania, the Middle East and Europe. However, the automobile industry is in trouble because of the double punch of the global economy slowing down due to the US-China trade friction and the spread of the new coronavirus.

Akihiro Komuro
Akihito Komuro

Exports, which account for half of Thailand’s automobile production, where Japanese and other automakers such as Toyota and Honda have production bases, have fallen, and vehicle production turned negative for the first time in five years in 2019. In addition, the spread of the new coronavirus is catching up. It is expected that the impact on Thailand’s automobile industry will be even greater if the shutdown of factories in China and production cutoffs are prolonged and parts procurement is delayed.

Source: NHK

PSR Analysis: From about September 2019, it has been reported that many Southeast Asian automobile industries, including Thailand, have begun to slow down, but this has been attributed to a slowdown in trade due to US-China trade friction.

Today, of course, there is the same problem, but the rapid spread of COVID-19 is a new problem. Many automotive industries around the world are supported by the supply of parts from China, and a slowdown in supply could severely impact car production. Especially in Southeast Asia such as Thailand and Indonesia.  PSR

Akihiro Komuro is a Research Analyst covering the Far East and Southeast Asia for Power Systems Research.

2021-03-20

Semiconductor Shortage Restricts Growth of Indian Auto Industry

Aditya Kondejkar

As the industry is coming out from the COVID impact, its growth is hurt by a shortage of semiconductors. Many OEMs have revised the production plans downward due to this shortage. We anticipate the shortage of semiconductors will exist for the next 4-5 months. Though it will hamper monthly production, it will have only a moderate impact on the total year’s production. But If the chip shortage lasts, production cuts could reduce the inventory of vehicles for sale in India and overseas markets.

The issue started in the Q2 2020. Due to COVID-19, auto OEMs worldwide drastically reduced their production and component orders. Concurrently, chipmakers were improving the supply chain, which had been disrupted by COVID-19. They witnessed a spurt in orders from electronics companies for items such as phones, laptops, gaming console makers and witnessed a spike in sales volume during the pandemic caused by changing work and school patterns.

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2021-11-21

Chip Shortages Cause Worst Festive Season in Decade for Auto Industry

Aditya Kondejkar

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.

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