SUMMARY: Gen-set sales continued the growth trend in Q1 2018 with a 2% increase over Q4 2017 levels. We continue to see increased demand for residential standby after last year’s severe weather season as well as the ramp-up towards the construction and camping seasons.
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.
The consolidated financial results for the April-June period of the three major Korean battery companies show significant sales growth. LG Energy Solution’s sales grew 73% y/y and operating profit was 2.4x y/y. SK On’s sales grew 2.9x y/y due to the expansion of EV production. Samsung SDI’s sales grew 23% y/y.
LG Energy, the world’s second largest automotive battery maker, posted a 73% y/y increase in sales to KRW 8.774 trillion (approximately $6.6 billion) and a 2.4x y/y increase in operating profit to KRW 461 billion (approximately $340 million), while its joint production with GM of the U.S., which will begin operations in 2022, also contributed to the continued growth in sales and profit.
Chris Fisher, Senior Commercial Vehicle Analyst at Power Systems Research, discusses the Q2 2021 global production facts and related forecasts for medium and heavy trucks, as reported in the quarterly PSR Truck Production Index.
Welcome to the PSR PowerTALK podcast produced by Power Systems Research.
00:06 Joe Delmont
From Power Systems Research, I’m Joe Delmont, editor of PSR PowerTALK.
Today we’ll discuss global truck production with Chris Fisher. Chris is Senior Commercial Vehicle Analyst at 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.
St. Paul, MN (Oct. 16, 2019)— The Power Systems Research Truck Production Index (PSR-TPI) dropped from 128 to 1116, or 9.4%, for the three-month period ended Sept. 30, 2019, from Q2 2019. The year-over-year (Q3 2018 to Q3 2019) loss for the PSR-TPI was, 120 to 116, or 3.3%.
St. Paul, MN (July 13, 2022)— The Power Systems Research Truck Production Index (PSR-TPI) increased from 104 to 116, or11.5%, for the three-month period ended June 30, 2022, from Q1 2022. The year-over-year (Q2 2021 to the Q2 2022) loss for the PSR-TPI was, 130 to 116, or -10.8%.
The PSR-TPI measures truck production globally and across six regions: North America, China, Europe, South America, Japan & Korea and Emerging Markets.
This data comes from OE Link™, the proprietary database maintained by Power Systems Research.
Global Index. Global medium and heavy vehicle production is expected to decline by 10% this year primarily due to a drop in demand in China and Eastern Europe. However, a slowing global economy will also place pressure on demand moving forward.
All Regions. Medium and heavy commercial vehicle production will be mixed this year due to a variety of issues. In China, truck and bus overcapacity will hinder demand while the Russian-Ukraine war will significantly impact demand and production in Eastern Europe. Global supply chains will remain a problem through at least the end of this year for all regions. There is critical concern about major slowdowns in the North American and European economies as a direct result of higher fuel prices and inflation which does not appear to be going away anytime soon.
Construction Equipment Internal Sales in Brazil from January thru May grew 35% over the same period of 2019. The Brazilian Machinery Builders´ Association (ABIMAQ) expects 2020 sales to hit 20,000 machines, 15% more than in 2019.
Source: Valor Econônico Read The Article
PSR Analysis: The Construction segment was the less affected by the pandemic than some other segments. The interest reduction directed investment to real state, especially housing, and some measures, such as the new regulation for sanitation, recently approved by the parliament, will boost the Construction business in 2020 and more significantly in the coming years. PSR
ST. PAUL, MN — The Power Systems Research Truck Production Index (PSR-TPI) increased from 106 to 120, or 13.2%, for the three-month period ended June 30, 2019, from Q1 2019. The year-over-year (Q2 2018 to Q2 2019) loss for the PSR-TPI was, 122 to 120, or 1.6%.
St. Paul, MN — The Power Systems Research Truck Production Index (PSR-TPI) increased from 109 to 147, or 35%, for the three-month period ended Dec. 31, 2020, from the Q3 2020. The year-over-year (Q4 2019 to Q4 2020) gain for the PSR-TPI was 121 to 147, or 21%.
The PSR-TPI measures truck production globally and across six regions: North America, China, Europe, South America, Japan & Korea and Emerging Markets.
This data comes from OE Link™, the proprietary database maintained by Power Systems Research.
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