Indonesia EV Sep 2023.jpg

Executive bullish on demand for electric buses, trucks in top ASEAN economy&nbsp;&nbsp;VKTR, which was set up in 2007, is the only company in Indonesia focused on heavy EVs.&nbsp;(Nikkei montage/Screenshots from VKTR's website)&nbsp;GITA ROSSIANA, DealStreetAsiaSeptember 11, 2023 13:19 JST&nbsp;JAKARTA -- Indonesian commercial electric vehicle company VKTR Mobilitas Indonesia, which is backed by conglomerate Bakrie Group, is looking to roll out vehicles from its manufacturing facility as soon as the first half of 2024 to tap the growing demand in Southeast Asia's biggest market, a top company executive told DealStreetAsia.&nbsp;The manufacturing facility, which is expected to become fully operational in 2024, is being set up by VKTR in a joint venture with Tri Sakti Industries, a car manufacturing company located in Magelang. VKTR holds a 60% stake in the JV, while Tri Sakti owns the rest. &nbsp;&nbsp;&nbsp;&nbsp;

Indonesia's VKTR expects EV factory to be fully operational in 2024.

inset: with her newly purchased BYD Sealion 7. Mahican Gielen &nbsp;May 28, 2025, 6:43 PM WIB&nbsp;<hr>&nbsp;&nbsp;I swapped my Tesla for a BYD after getting frustrated with Elon Musk. It was the right decision, but there are some things I miss. As told to <a href="https://www.businessinsider.com/author/tom-carter" target="_blank" rel="noopener noreferrer">Tom Carter</a>&nbsp;<ul><li>Mahican Gielen is a radiologist in Denmark who swapped her Tesla for a BYD Sealion 7 in April.</li><li>Gielen sold her Tesla in part because of Elon Musk's political interventions.</li><li>She said the BYD was well-built but lacked some of Tesla's technological features.</li></ul>&nbsp;This as-told-to essay is based on a conversation with Mahican Gielen, a radiologist in Hjørring, Denmark, about swapping her <a href="https://www.businessinsider.com/tesla-model-3-review-autopilot-supercharger-photos-2019-9" target="_blank" rel="noopener noreferrer">Tesla Model 3</a> &nbsp;for a BYD Sealion 7. It has been edited for length and clarity.&nbsp;&nbsp;We live in Denmark, in the city of Hjørring, but we're actually from Holland. My husband and I are both doctors: I'm a radiologist, and he's a cardiologist.&nbsp;I bought a Tesla Model 3 three years ago. It was my first electric car, and I'd wanted a Tesla for years.My kids even pushed me because they knew I was looking for a car. They said: "Mom, it should be a Tesla. That's the best car. It's a green car. It saves the planet."&nbsp;I have to say, I loved that car. It was such a big step up from the normal combustion engines and had so many cool features. I still miss it sometimes.&nbsp;The first time I got a bit annoyed with my Tesla was when the company started cutting the prices. I bought mine right before, so that hurt. &nbsp;&nbsp;Elon Musk joining the Trump administration was the final straw. I love cars, but if owning one gets overruled by the constant noise about the CEO and people asking whether it bothers me, then the fun goes out of it.I just didn't want the headache anymore.&nbsp;I know there is more to the company. But when you have a CEO who's so visible, he just becomes one with the company. And I really feel bad for Tesla because I like the brand. They were so innovative and new. &nbsp;But this was a step too far. It really made me say, you know what? I'm going to get rid of this car. It's not going to get any better from here, so I'll just cut my losses.&nbsp;Buying a BYD &nbsp;<figure class="image image-style-align-left"><img src="/uploads/BYD_Sealion_7_swap_May_2025_16ac75a164.jpg"></figure>inset: Mahican Gielen replaced her Tesla Model 3 with a BYD Sealion 7.&nbsp;&nbsp;&nbsp;I sold my Model 3 for 150,000 Danish Krone, or about $22,000, in April, having paid 350,000 Krone for it in 2022, and I bought a BYD Sealion 7 Excellence the same month. [Editor's Note: BI was unable to verify the purchase price of Gielen's BYD Sealion 7 Excellence. It starts from roughly 390,000 Danish krone, or about $59,000.]&nbsp;I wasn't going to buy an SUV, but I saw the Sealion 7 in a showroom and thought it looked amazing.It was a little bit impulsive, but I'm really happy with it.&nbsp;The build quality is on a level with a Mercedes, and the car feels really premium.Things are different, but it has so many cool features, like a head-up display and actual physical buttons, which I missed as the Tesla didn't have them.&nbsp;The best thing about the car is how solid it is. I always tell people the Tesla felt like a toy car compared to this one, because it was always rattling.&nbsp;Sometimes, when it was freezing, you couldn't close the door because it wouldn't catch, and when you drove the Tesla around in the rain, sometimes you would hear sloshing sounds like water was dripping in the car. So the build quality is completely different. The range is more than enough for me, and the software works pretty well. It's a bit slower and less intuitive than the software in the Tesla, but overall, I like it.I think it's great that Chinese EV brands are entering Europe. I absolutely believe that the market should be open, and they have something to offer For me, many European brands seem kind of boring. They do the same thing every time, and these brands do something new.&nbsp;Even if people don't buy them, it will probably make the European brands push their boundaries a bit and do more stuff. So I think it's absolutely good for everyone if more become available in Europe. Feature FOMO&nbsp;There are a few features I still miss about the Tesla, but I'm hoping they could be added to the BYD with software updates.&nbsp;The Tesla auto-locks and unlocks when you just have your phone in your bag or on you. In the BYD, I really had to get used to pushing the button on the car key to lock and unlock.&nbsp;When you charged your car, the Tesla automatically opened its charger port flap and closed it again. I have been driving around with an open flap because I'm so used to it.&nbsp;My kids also really loved the Tesla's "Santa Mode," and the Tesla app has a lot more features than the BYD one.&nbsp;The feature I'm really going to miss is that Tesla automatically defrosted the windows via the app. So, I didn't have to remove ice for the last few years. It's not a problem now, but I know it's going to be annoying in the winter. You could overlook some of the things that were wrong with the Tesla because it was so easy to use, it was almost like an iPhone. But in the end, some things are just not right.&nbsp;Part of the reason I sold the car was because of the build quality. Mine was beginning to get a bit older, and I was in the shop with it more and more.&nbsp;The path Musk has taken is extremely frustrating. It seriously hurts because I was really rooting for the brand. I think it's sad for a company that was so promising and could have done much more.&nbsp; source: <a href="https://www.businessinsider.com/byd-sealion-7-i-swapped-my-tesla-for-a-byd-2025-5">https://www.businessinsider.com/byd-sealion-7-i-swapped-my-tesla-for-a-byd-2025-5</a> &nbsp;

She swapped her Tesla for a BYD

By <a href="https://www.reuters.com/authors/maki-shiraki/">Maki Shiraki</a> and <a href="https://www.reuters.com/authors/daniel-leussink/">Daniel Leussink</a> ~ February 13, 2025 9:35 PM GMT+7<hr>- A merger would have created the world's No. 4 auto group - Honda had wanted to make Nissan a subsidiary, sources say - Foxconn says it is open to taking a stake in Nissan&nbsp;&nbsp;YOKOHAMA, Japan, Feb 13 (Reuters) - Nissan (7201.T) and Honda (7267.T) ended merger talks to forge a $60 billion car company on Thursday, pitching Nissan deeper into uncertainty and highlighting the pressure on legacy automakers from Chinese rivals upending the industry. &nbsp;The talks between Honda, Japan's second-largest automaker, and Nissan, its third, were announced in December but were soon strained by disagreements, including over the balance of power. The deal was ultimately sunk by Honda's proposal to make Nissan a subsidiary, sources have said. The car companies said they would continue with an earlier agreement, which also includes Mitsubishi Motors (7211.T) , to cooperate on technology and other areas. Analysts said such collaboration is crucial for established carmakers as BYD (002594.SZ) &nbsp;and other Chinese EV makers gobble up market share with sleeker, more software-rich cars. Japan's carmakers also face the added threat of tariffs in the United States on vehicles they import into the U.S. from Mexico, an important manufacturing hub.&nbsp;Nissan is in many ways the most troubled of major legacy automakers, having never fully recovered from the years of crisis and management turmoil sparked by the 2018 arrest and ouster of former chairman Carlos Ghosn. "Honda is pretty confident and has a lot in their favour, whereas Nissan is in a bad place. They don't have a dance partner right now," said Christopher Richter, Japan autos analyst at brokerage CLSA.&nbsp;"They probably need to think about doing something different." The merger would have created the world's fourth-biggest auto group by vehicle sales after Toyota (7203.T) , opens new tab, Volkswagen (VOWG_p.DE), opens new tab and Hyundai (005380.KS) Honda CEO Toshihiro Mibe told a press conference that while joining the two companies would have meant "quick pain", he ultimately became more worried about the fallout if the talks dragged on without progress.&nbsp;He said that Honda had no plan to launch a hostile takeover bid for Nissan. The failure of the discussions was "disappointing", he said. French automaker Renault (RENA.PA) Nissan's top shareholder, said the terms of the proposed merger, including the lack of any premium, were unacceptable.&nbsp; RESTRUCTURING Nissan on Thursday cut its full-year forecast for the third time and reported another big drop in third-quarter earnings. It said it would accelerate the turnaround programme it first unveiled last year. The company now aims to close a plant in Thailand by June and two more plants, which it did not name, after that. It has previously said it would cut 9,000 jobs and reduce global capacity by 20%. Nissan CEO Makoto Uchida told a press conference that ending the malaise was the most pressing issue, after which he would be willing to bow out. "If I can see the direction in which this will take shape," he said, referring to the turnaround. "I will naturally be ready to pass the baton to the next person," he said. Nissan said it would seek new partnerships as part of the review, and would give an update about the turnaround within a month. Sources said in December that Nissan would need to further reduce its capacity in China, where it operates eight factories through its joint venture with Dongfeng Motor (0489.HK) . It has already suspended production at its Changzhou plant as part of efforts to optimise operations. &nbsp;Sources said last week that Nissan was open to working with new partners, with Taiwan's Foxconn (2317.TW) , opens new tab seen as one candidate. Uchida said Nissan and Foxconn had not held talks at management level. Foxconn Chairman Young Liu said on Wednesday that his company would consider taking a stake in Nissan but that its main aim was cooperation.&nbsp; TECHNOLOGY &nbsp;Tang Jin, a senior researcher at Mizuho Bank, questioned how effective the technology partnership between Honda and Nissan would be. "A partnership like this has very little substantial effect when their problem is how to defend themselves from the lightning-fast speeds of Tesla and BYD," he said. Nissan shares soared more than 60% and Honda's jumped around 26% in late December after the merger talks were first reported on Dec. 17. Those gains have since been pared to 21% for Nissan and 11% for Honda. Nissan's market capitalisation is now nearly five times smaller than that of Honda, which is about 7.5 trillion yen ($48.6 billion). A decade ago, the pair were both worth around 4.6 trillion yen.&nbsp;Reporting by Maki Shiraki and Daniel Leussink; Additional reporting by Satoshi Sugiyama, Rocky Swift and Kantaro Komiya; Editing by Miyoung Kim, David Dolan, Edwina Gibbs and Jane Merriman.&nbsp;source : https://www.reuters.com/business/autos-transportation/

Nissan and Honda ditch $60 billion merger talks, face new uncertainty.



The e.MAS 7 basic and premium models will be priced at RM109,800 and RM123,800 respectively.<hr>&nbsp;KUALA LUMPUR: Malaysian auto firm Proton launched its first electric vehicle on Monday (Dec 16), the latest entry into the local market as the country seeks to boost EV and hybrid EV use and gain a foothold in the global supply chain.&nbsp;Proton is majority owned by Malaysian conglomerate DRB HICOM, with the remaining 49.9 per cent stake held by Chinese automaker Zhejiang Geely Holding Group.&nbsp;The Proton e.MAS 7's introduction in Malaysia follows that of BYD, Tesla and Stellantis in partnership with Leapmotor.&nbsp;The e.MAS 7 basic and premium models will be priced at RM109,800 (US$24,674) and RM123,800, respectively.&nbsp;Malaysia wants EVs and hybrids to account for a fifth of new car sales by 2030. It reported a 112 per cent rise in the sale of battery EVs in the first half of the year.&nbsp;Prime Minister Anwar Ibrahim at the launch said he hoped in future the e.MAS 7 could be manufactured in Malaysia and more local firms could be involved in the production of EVs.&nbsp; Source : <a href="https://www.channelnewsasia.com/business/malaysia-proton-first-electric-vehicle-emas-7-ev-4809161">https://www.channelnewsasia.com/business/malaysia-proton-first-electric-vehicle-emas-7-ev-4809161</a>&nbsp;

Malaysia's Proton launches its first electric vehicle.


Zacks Equity Research&nbsp; December 2, 2024<hr><h1>NIO, XPeng &amp; Li Auto Provide Delivery Results for November</h1>&nbsp;&nbsp;NIO Inc. NIO, XPeng Inc. XPEV and Li Auto LI, the three smart electric vehicle (EV) companies in China, recently provided their respective delivery results for November 2024.&nbsp;NIO delivered 20,575 vehicles in November 2024, rising 28.9% year over year. The deliveries comprise 15,493 units of the premium smart EV brand NIO and 5,082 units of ONVO, a family-oriented smart EV brand. As of Nov. 30, 2024, NIO’s cumulative deliveries stand at 640,426 units.&nbsp;XPeng’s Smart EV deliveries rose 54% year over year to 30,895 units in November 2024. XPENG MONA M03 deliveries surpassed 10,000 units for the third consecutive month since its launch. Deliveries of XPENG P7+ surpassed 7,000 units after 23 days of launch. In November, XPENG achieved an 85% monthly active user penetration rate for urban driving. It officially expanded into Nepal and U.K. markets in the same month.&nbsp;In November 2024, Li Auto delivered 48,740 vehicles, up 18.8% year over year. In the first 11 months of 2024, Li Auto had delivered a total of 441,995 units, taking its cumulative deliveries to 1,075,359 units. Li's ongoing advancements in autonomous driving technology have driven strong demand for models equipped with Li AD Max. In November, these vehicles made up more than 70% of orders for models priced above RMB 300,000 and more than 80% for those exceeding RMB 400,000.&nbsp;The company ilaunched OTA update version 6.5 in November, introducing a one-click point-to-point autonomous driving feature for all Li AD Max users. This update leverages the company's end-to-end capabilities and vision-language model technologies. As of Sept. 30, 2024, the automaker had 475 retail stores in 141 cities, 451 servicing centers and Li Auto-authorized body and paint shops in 223 cities and 1,135 supercharging stations with 5,680 charging stalls in China.&nbsp;&nbsp;<h2>NIO, XPEV and LI's Price Performance</h2>Shares of NIO, XPEV and LI have plunged 38.8%, 24.8% and 33.9%, respectively, over the past year.<figure class="image image-style-align-center"><img src="/uploads/Nio_Xpeng_Li_Auto_shares_Dec_2024_852f9d9a4f.jpeg"></figure>image source:Image Source: Zacks Investment Research&nbsp;&nbsp;souce: https://finance.yahoo.com/news/nio-xpeng-li-auto-delivery-160000526.html

NIO, XPeng & Li Auto Provide Delivery Results for November

Kompas.com - 15/11/2024, 14:19 WIB &nbsp;<hr>Muh. Ilham Nurul Karim, Azwar Ferdian-Tim Redaksi&nbsp;&nbsp;JAKARTA, KOMPAS.com – Astra Auto Fest 2024 kembali hadir dengan ragam produk otomotif dan layanan finansial,&nbsp; berlangsung di Pondok Indah Mall 2 (PIM 2), Jakarta Selatan, pada 13-17 November 2024.&nbsp; &nbsp;Tujuh belas merek besar di bawah naungan Astra dipamerkan sehingga pengunjung dapat menjelajahi beragam kendaraan roda empat seperti Toyota, BMW, Lexus, UD Trucks, serta kendaraan roda dua dari Astra Honda Motor (AHM).&nbsp;&nbsp;<figure class="image image-style-align-center"><img src="/uploads/Astra_Auto_Fest_pembukaan_Nov_2024_b5a28477ce.jpg"></figure>Peresmian Pembukaan Astra Auto Fest 2024 di Jakarta Selatan. Lihat Foto Peresmian Pembukaan Astra Auto Fest 2024 di Jakarta Selatan.(ilhamkarim/kompas.com)&nbsp; &nbsp; Model-model unggulan, termasuk Isuzu MU-X, Daihatsu Rocky, Toyota Bz4x, hingga Honda E CUV turut dipamerkan. Astra juga memperkenalkan EV charger dari Toyota sebagai bagian dari dukungan untuk kendaraan listrik.&nbsp; &nbsp;Astra Auto Fest kali ini menghadirkan pilihan pembiayaan dari Astra Credit Companies, Toyota Astra Finance, Seva, dan FIFGroup, serta layanan asuransi dari Astra Life dan Asuransi Astra. Layanan digital dari Astra Pay dan Bank Satu melengkapi paket keuangan bagi pengunjung.&nbsp; &nbsp;&nbsp;souce: &nbsp;otomotif.kompas.com/read/2024/11/15/141921615/astra-auto-fest-2024-pameran-khusus-produk-otomotif-astra&nbsp;

Astra Auto Fest 2024, Pameran Khusus Produk Otomotif Astra



China’s Drive for Global EV Dominance and the Roadblocks It’s Facing, in Charts © Uncredited&nbsp;&nbsp;Europe’s tariffs are the latest move by nations pushing back against imports from world’s biggest producer Story by Clarence Leong - The Wall Street Journal<hr>The push by Chinese electric-vehicle makers to export their made-in-China vehicles is running into roadblocks just a few years after it got going, owing to moves by countries around the globe to impose tariffs and other restrictions.&nbsp;On Friday, European Union member states voted to impose tariffs of up to 45% on electric cars made in China. Here is how the world’s biggest EV-producing nation has hit trouble overseas—and what its carmakers are doing to get around it. &nbsp;<ul style="list-style-type:square;"><li style="text-align:justify;">Ramping up exports</li></ul>China’s surging EV production helped its carmakers reduce costs and become more competitive. With capacity outpacing demand at home, they began looking overseas in recent years. &nbsp;<ul style="list-style-type:square;"><li>The response: tariffs</li></ul>Countries seeing a surge in imports of made-in-China EVs have often responded with more tariffs. Brazil raised its tariffs on battery EVs to 18% in July from 10%. The tariff will rise again to 35% in July 2026.Turkey has imposed an additional 40% duty on electric cars from China since July, while in Canada, a 100% tariff on Chinese-made EVs took effect Oct. 1.The U.S. imports relatively few Chinese-made EVs and has already acted to make sure that remains the case. The Biden administration this year imposed a 100% tariff on Chinese EVs. &nbsp;<ul style="list-style-type:square;"><li>Export growth slows</li></ul>Brazil is an example of a country where higher tariffs have caused a sharp drop in its imports of made-in-China EVs. Imports in the EU have also stopped rising while in some other markets such as Mexico and Canada imports from China have still been growing.&nbsp;<ul style="list-style-type:square;"><li>Building EV factories outside of China</li></ul>In the past year, many Chinese companies have stepped up moves to build or invest in car production overseas to avoid tariffs. One example: BYD, the biggest Chinese EV maker, will build a factory in Turkey with an annual capacity of 150,000 vehicles, to open in 2026, the government said in July. source : written by : clarence.leong@wsj.om &nbsp;&nbsp;

China’s Drive for Global EV Dominance and the Roadblocks It’s Facing, in Charts.



Stellantis blames poor demand for electric vehicles for an extended production suspension.Andrew Beckford |Writer;Manufacturer |Photographer| Oct 01, 2024<hr>&nbsp;What if we told you that there’s an electric car out there that only has realistic seating for two, a range under 170 miles, and, apparently, very little appeal for buyers? In case you didn’t figure it out, we’re talking about the 2024 Fiat 500e.&nbsp;According to a report from Reuters, Stellantis has said it will be extending a production suspension at its Mirafiori plant in Turin, Italy, which produces the Fiat 500e. Originally the plant was supposed to resume production on October 11, but due to “weak orders” Stellantis is extending the suspension until November 1. We can’t say that we’re shocked.&nbsp;Don’t get us wrong; we don’t hate the Fiat 500e. In fact, it’s quite the opposite. We had a great time driving it on the streets of Miami. However, its limited range, slow charging, and overall low utility makes it a niche product for a narrow audience of urban dwellers. Like any other car buyer, EV shoppers are looking for maximum value for money. While the Fiat 500e is among the cheapest EVs on the market, the Hyundai Kona EV offers more passenger space, cargo space, and range.&nbsp;Stellantis is still promising to invest over $100 million in the Fiat 500e with a better battery, and is slated to start production on a Fiat 500 hybrid in 2026. In the meantime, don’t expect inventory of the 500e to increase anytime soon.&nbsp;<figure class="image"><img src="https://cms.gprrent.co.id/uploads/2024_fiat_500e_red_edition_13_f981c96056.png"></figure><figure class="image"><img src="https://cms.gprrent.co.id/uploads/2024_fiat_500e_red_edition_4_d493ba2100.png"></figure><figure class="image"><img src="https://cms.gprrent.co.id/uploads/2024_fiat_500e_red_edition_6_bac3dd60a8.png"></figure><figure class="image"><img src="https://cms.gprrent.co.id/uploads/2024_fiat_500e_red_edition_7_2004f34671.png"></figure><figure class="image"><img src="https://cms.gprrent.co.id/uploads/2024_fiat_500e_red_edition_14_92da43e05e.png"></figure><figure class="image"><img src="https://cms.gprrent.co.id/uploads/2024_fiat_500e_red_edition_10_7e7e908796.png"></figure>&nbsp; source: https://www.motortrend.com

This Car Is Selling So Badly They Had to Stop the Production.

image souce: getty images&nbsp;The US and European Union have announced similar duties on Chinese imports.<hr>Canada says it will impose a 100% tariff on imports of China-made electric vehicles (EV) after similar announcements by the US and European Union.&nbsp;The country also plans to impose a 25% duty on Chinese steel and aluminium.&nbsp;Canada and its Western allies accuse China of subsidising its EV industry, giving its car makers an unfair advantage.&nbsp;China has called the move "trade protectionism" which "violates World Trade Organization rules". "We are transforming Canada's automotive sector to be a global leader in building the vehicles of tomorrow, but actors like China have chosen to give themselves an unfair advantage in the global marketplace", said Canadian Prime Minister Justin Trudeau.&nbsp;Canada's duties on Chinese EVs are due to come into effect on 1 October, while those on steel and aluminium will be implemented from 15 October.&nbsp;"The rapid development of China’s electric vehicle industry is a result of persistent technological innovation, well-established industrial and supply chains, and full market competition," said a statement from China's embassy in Canada.&nbsp;"Its competitiveness is gained through utilising its comparative advantages and following market principles, rather than relying on government subsidies."&nbsp;China is Canada's second-largest trading partner, behind the US.&nbsp;In May, the US said it would quadruple its tariffs on imports of Chinese EVs to 100%.&nbsp;That was followed by the EU, which announced plans to impose duties on China-made EVs of up to 36.3%.&nbsp;Canada's tariffs on Chinese EVs will include those made by Tesla at its Shanghai factory.&nbsp;"Tesla will almost certainly be lobbying the Canadian government to get some leeway on these tariffs, as they have already with Europe," said Mark Rainford, a China-based car industry commentator.&nbsp;&nbsp;"If they fail at mitigating the tariff enough, they'll likely look at switching their Canadian imports to either the US or European factories since Canada is their 6th largest market this year and thus not insignificant."&nbsp;Tesla did not immediately reply to a request for comment from BBC News.&nbsp;Earlier this month, the EU cut its planned extra tariff on China-made Teslas by more than half, after further investigations requested by Elon Musk's car maker.&nbsp;Chinese car brands are still not a common sight in Canada but some, like BYD, have taken steps to enter the country's market.&nbsp;China is the world's largest manufacturer of EVs and its car makers have quickly gained a significant share of the global market.&nbsp;Meanwhile, Canada has struck deals worth billions of dollars with major European car makers, as it tries to become a key part of the global EV industry.&nbsp;&nbsp;source: <a href="https://www.bbc.com/news/articles/cm2n091v4m5o">https://www.bbc.com/news/articles/cm2n091v4m5o</a>&nbsp; &nbsp;

Canada hits China-made electric cars with a significant 100% tariff.



inset: The view under the hood of a Toyota Prius. As automobiles incorporate more electronic parts, component makers are boosting investment. &nbsp; © Getty Images&nbsp; &nbsp;<hr>Advanced automobiles and AI lift demand for capacitors and other parts&nbsp;&nbsp;YUKA KONISHI, KOSUKE TSUNODA and EISAKU NITTA, Nikkei staff writers. July 11, 2024 04:53 JST TOKYO/KYOTO, Japan -- Japan's electronic components makers are boosting capital spending by 5.4% this fiscal year, as automobiles continue to incorporate more electrical parts for everything from hybrid drivetrains to advanced driver-assistance systems.&nbsp;Based on investment plans of 32 companies -- including Murata Manufacturing, TDK and Kyocera -- compiled by Nikkei, total spending was expected to reach 1.4 trillion yen ($8.7 billion) in fiscal 2024, a 46% increase from four years ago. Of these companies, 19 were planning to boost spending.&nbsp;Passive components such as capacitors and coils are at the center of the investments, accounting for 60% of the total. Investments in this area are on pace this year to reach 867.2 billion yen, continuing the high level of fiscal 2023.&nbsp;In particular, companies are investing in multilayer ceramic capacitors (MLCCs) that temporarily store and discharge electricity and remove noise that can lead to malfunctions. In general, about 1,000 MLCCs are used in a smartphone, 5,000 in a gasoline car and 10,000 in an electric vehicle.&nbsp;Japanese companies dominate the global market for these devices. Murata Manufacturing has the largest share in automotive MLCCs, with TDK and Taiyo Yuden also in the top five. With South Korean and Taiwanese companies also on the rise, Japanese companies are looking to maintain market share by keeping capital investments up.&nbsp;Murata Manufacturing is planning 190 billion yen in capital investments this year. It is increasing production capacity of automobile MLCCs by 10% each year.&nbsp;It will also invest in new production facilities in Japan's Shimane prefecture and the Philippines, as well as a development center in Fukui prefecture, Japan, that is scheduled to start operations in April 2026.&nbsp; source: asia.nikkei.com&nbsp; &nbsp;&nbsp;

Japan's electronic parts makers boost capital spending by 5%


inset: Kia said it set a monthly record for EV deliveries, 3,623, with EV6 volume jumping 65 percent to 2,051. Sales of the new EV9 tallied 1,572 last month.&nbsp; May 01, 2024 06:57 AM &nbsp; David Phillips&nbsp;<hr>&nbsp;Hyundai and Kia posted slightly lower U.S. sales in April, though electric-vehicle and hybrid deliveries rose, in a sign the market is becoming more competitive as inventories continue to rise. Sales dropped 3 percent to 68,603 in April at Hyundai, following two consecutive monthly gains, with the brand's three top sellers posting double-digit declines: Tucson, off 16 percent; Santa Fe, down 11 percent; and Elantra, off 24 percent. Hyundai said its sales of electrified vehicles rose 26 percent last month, with the Ioniq 5 EV up 59 percent, and overall gasoline-electric hybrid deliveries advancing 29 percent. Kia reported April sales of 65,754, a drop of 3.6 percent, and its fifth straight monthly decline. The company's car sales were sharply weaker, with deliveries of the K5 midsize sedan dropping to 333 from 5,035 a year earlier. Kia said it set a monthly EV sales record of 3,623, with EV6 volume jumping 65 percent to 2,051. Genesis, after a streak of 17 consecutive monthly gains, said sales fell 5.9 percent to 5,508 in April, mainly on lower GV70 volume.Toyota Motor Corp., Honda Motor Co., Subaru and Mazda will release April sales results later Wednesday, followed by results from Ford Motor Co. on Thursday and Volvo on May 6. U.S. light-vehicle sales are expected to drop about 2 percent in April, reflecting one less selling day than a year earlier and weaker fleet shipments, analysts say. The market grew 5.6 percent in the first quarter. While rising inventory, improved selection and more discounts — notably on big pickups and electric vehicles — are supporting retail sales, the market is also being held back by elevated new-vehicle prices, high interest rates and the ongoing deterioration in used-vehicle values that is leaving shoppers with less trade-in equity.After advancing 13 percent to 15.6 million vehicles in 2023, U.S. sales are projected by analysts and economists to rise more moderately to 15.7 million to 16.1 million in 2024."Despite high interest rates and elevated vehicle prices, consumers remain resilient," Cox Automotive Senior Economist Charlie Chesbrough said. "Sales growth may be sluggish, but growth continues. And we expect these conditions to persist throughout the year."S&amp;P Global Mobility, citing steady consumer demand and easing supply chain bottlenecks, in April raised its outlook for North American light-vehicle production for 2024 by 1.5 percent to 16 million. &nbsp;SAARThe seasonally adjusted annual rate of sales is forecast to reach 15.6 million to 16 million vehicles, according to projections from J.D. Power/GlobalData, Cox Automotive and S&amp;P Global Mobility. The SAAR tallied 15.41 million in March and 15.77 million in April 2023. &nbsp;IncentivesJ.D. Power and GlobalData said discounts are expected to fall $204 from March to $2,633 in April, but are up materially over April 2023. The average incentive per light truck rose $1,007 from April 2023 to $2,765 last month, J.D. Power and GlobalData said, while the average incentive on cars totaled $2,129, up $737 from a year earlier. &nbsp;InventoryRetail inventory is expected to finish around 1.8 million vehicles in April, a 3.2 percent increase from March 2024 and a 40 percent increase from April 2023, J.D. Power and GlobalData said. New-vehicle supplies stood at 2.86 million, up 89,000 from two weeks ago, Cox Automotive said, and 954,000 units higher than a year ago, or 50 percent higher. S&amp;P Global Mobility said retail advertised inventory of 2024 and some 2025 model year vehicles along with pockets of older inventory continue to rise, reaching 2.97 million in April, an increase of 65 percent year over year. &nbsp;FleetFleet sales are expected to total 219,687 vehicles last month, down 14 percent from April 2023 when adjusted for selling days, J.D. Power and GlobalData estimate, with volume accounting for 16.8 percent of total light-vehicle deliveries, a decline of 2.5 percentage points from a year earlier. Odds, endsThere were 25 selling days last month v. 26 in &nbsp;April 2023 and 27 in March.The average new-vehicle retail transaction price was on track to reach $45,093 last month, J.D. Power and GlobalData said, down $1,172 from April 2023, and well below the record of $47,329 set in December 2022.Average interest rates for new-vehicle loans are expected to increase to 7 percent in April, 20 basis points higher than a year earlier, J.D. Power and GlobalData said. source: www.autonews.com &nbsp;&nbsp;

Hyundai, Kia sales slip in April 2024


U.S. light-vehicle sales are expected to drop about 2% in April, reflecting one less selling day than a year earlier and weaker fleet shipments, analysts say.
