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China-led Proton Is Revitalized
Akihiro Komuro Sales of Malaysia’s national carmaker Proton are booming, with its market share in the country reaching 27.3 % in February, hot on the heels of another national carmaker, Produa’s 38.8 %. This is not a single month irregularity; for the full year 2020, the rate is 20.5%. For the full year 2020, the share is 20.5%, almost doubling in just two years from a record low of 10.8% in 2018. This is the first time in seven years that the market share has recovered to the 20% level.
The turning point of the turnaround offensive was a capital/business alliance with a Chinese manufacturer: in September 2017, the company accepted a 49.9% stake from Geely Automobile’s parent company and began importing the right-hand drive version of the X70 SUV, which it produces and sells in China, at the end of 2018. As soon as this became a hit, the company switched to domestic assembly in Malaysia at the end of 2019, and introduced an additional small SUV, the X50, in September 2020.
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Hyundai Group Seals Doosan Infracore Deal
Media outlets in Korea are reporting that Hyundai Heavy Industries is to acquire a 34.97% share in Doosan Infracore from Doosan Heavy Industries & Construction for €630 million (Korean Won 850 billion). Doosan Infracore is the heavy construction division of the Seoul-headquartered Doosan Group.
The transaction does not include Doosan Bobcat, which accounted for 57% of Infracore’s 2019 revenues. The deal will mean that Hyundai will own Hyundai Construction Equipment as well as the Doosan Infracore…
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Brazil OEMs Forecast CE Sales Growth of 20% in 2021
Fabio Ferraresi Volvo CE and Case Construction are aligned to affirm CE sales in Brazil will grow 20% in 2021 despite of the effects of the pandemic. With 18% growth of sales in Q1 2021 over the same quarter of 2020, CE executives are optimistic about full year sales.
Source: M&T Read The Article
PSR Analysis: First quarter of 2020 was a strong sales quarter over 2019 because the pandemic impact was not present until March 16, 2020.
This makes the result of Q1 2021 18% above Q1 2020 really strong…
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Argentina Forces OEMs and Supply Chain To Produce at Full Capacity
In an effort to reduce the domestic economic impact of the pandemic, the Argentinian government has published an order that makes all industry with annual revenue above US$ 41 Million to produce at full capacity. If not, they will be fined.
Source: Automotive Business Read The Article
PSR Analysis: As the Argentinian government sees a shortage of industrial products and related price escalation, it identifies reduced OEM production as the main cause of these shortages. However, it underestimates…
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MWM Launches Family of NG Engines
MWM Engines and Power Gen, part of the Navistar group, has announced the launch of a new line of Acteon Engines powered by Natural Gas. The engine family has been developed in Brazil and features 4 cylinders and 6 cylinders with 4.8L and 7.2L displacement.
Source: Automotive Business Read The Article
PSR Analysis: With this move, MWM meets Power Gen customers demand or NG powered Gen Sets and increases portfolio to attend OEMs aiming to launch NG powered vehicles and equipment…
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MAN Marine Engines Certified To Operate Globally
Natasa Mulahalilovic MAN Energy Solutions, one of the leading marine engine manufacturers in the range between 730 and 2000 hp (5370 to 1397 kW), says that all of its engines now comply to the globally required major current emissions standards.
All engine models from i8-730 to V12-2000 are certified with the US EPA Tier III, the EU IMO Tier II and RCD 2013/53/EC. The current China Marine Recreational Stage I standard has been upgraded to the Stage II based on the US Tier III standard requirements.
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NA Powersports EV Update
Read the complete report in April PowerTALK™ News
EDITOR’S NOTE. Power Systems Research tracks the global trend of electrification of industrial equipment. This is one of a series of reports on these trends.
Michael Aistrup Polaris INDUSTRIES, Minneapolis, is planning to debut a new electric Ranger utility side-by-side in December 2021. The Ranger will be the first electric vehicle Polaris has developed through their partnership with Zero Motorcycles.
The electric Ranger is the first product in Polaris’s long-term plan to accelerate its leadership in powersports electrification. Production will take place in Polaris’s Huntsville, AL facility.
Bombardier Recreational Products Inc. (BRP), which owns popular brands such as Can-Am, Rotax, Sea-Doo and Ski-Doo, plans to offer electric models in each of its product lines by the end of 2026. The company is investing $300 million in product development and production facilities.
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Fastest NA Economic Growth Expected Since 1980s
Read the complete report in April PowerTALK™ News.
Yosyf Sheremeta (April 1, 2021)–After the GDP declined 3.5% last year, the worst performance in almost 75 years, the US economy is set for a strong comeback. In fact, we could see GDP growth exceeding 6% this year.
There are many reasons to be optimistic about 2021. Strong readings of macro-economic factors combined with the economic cycle reset backed by the government initiatives and policies support our estimates for the current year and beyond.
Our positive outlook is based on the reviews of the key economic indicators, including GDP, unemployment, and inflation. In our previous forecasts, we discussed recovery trends for the post-pandemic period, stating a return of demand for most markets in 2021, especially during H2 2021.
Based on our analysis of the expected growth trend and the economic reviews in major publications, we think US growth can surpass the growth level from 1984 – the highest one since 1950s.
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DATAPOINT: 2021 US ATV Production, 301,000 Units
301,000 units is the estimate by Power Systems Research of the number of ATVs to be produced in Mexico and the U.S. in 2021.
This information comes from industry interviews and from two proprietary databases maintained by Power Systems Research: EnginLink™ , which provides information on engines, and OE Link™, a database of equipment manufacturers.
Market Share: With 28% of total units produced, Polaris Industries leads in production four-wheeled ATVs in North America. In second and third positions are Honda and Yamaha Motor with 22% and 19%, respectively.
Exports: Up to45% of Mexico’s ATV production is exported worldwide. That compares to about 30% of the US production that is exported.
Trends: Production of ATVs decreased 18% in 2020 from the 337,700 units produced in 2019. Even though production is expected to increase in 2021 by about 9% over the 2020 production of 275,700 units, it will still trail 2019 production by more than 36,000 units.
The decrease in 2020 was caused by COVID-19, excess inventories, uncertain economic conditions and the growing popularity of side x side units (UTVs). Manufacturers have discontinued less popular models and continue to shift production to UTVs.
The outlook for ATV sales is positive. According to investor relations representatives at Polaris, Yamaha and Arctic Cat, consumer discretionary spending is on the increase and gasoline prices are favorable.
Production is expected to increase by as much as 10% by 2025, driven by positive economic factors, pent-up demand caused by COVID, and the introduction of innovative products and technologies, including a shift to electric vehicles. PSR
Carol Turner is Senior Analyst, Global Operations at Power Systems Research
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North American Economic Outlook – April 2021
In this episode of PSR PowerTALK, Yosyf Sheremeta, PhD, Dir. of Prod. Mgt. & Customer Experience, discusses why the North American economy could post record growth of more than 6% in 2021.
Transcript
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 the economic outlook for North America. This forecast has been developed by Yosyf Sheremeta, Director of Product Management and Customer Experience at Power Systems Research. Yosyf provides our clients with economic and production forecasts each quarter. Thanks for joining us today Yosyf.
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