The value of the global automotive ADAS (Advanced Driver Assistance System) market is expected to rise from US$64.04 billion in 2024 to US$ 211.71 billion by 2034. That estimated growth is expected to be driven by a steady Compound Annual Growth Rate (CAGR) of 12.7 per cent in ADAS market over the next decade.
Michelin’s third-quarter 2022 sales outperformed consensus expectations by 3.9 per cent. Sharing its third-quarter 2022 financial results, Michelin confirmed its full-year 2022 adjusted pre-tax profit (EBIT) guidance, but it also reduced its free-cash-flow expectations by 0.5 billion euros. But much of the company’s relative success depends on its strong price-mix performance, a factor that is equally important to other premium tyre brands. Here, Tyres & Accessories reads Michelin’s recent third-quarter 2022 financial results in light of the consensus expectations and a recent investor’s note published by Jefferies.
Michelin Group has reported that its first quarter 2022 sales amounted to 6.5 billion euros, a 19 per cent increase on the first quarter of 2021. According to the company, price increases and strengthening replacement demand helped it offset headwinds including operation disruptions and inflationary pressures exacerbated by the conflict in Ukraine plus the resurgence of Covid-19 in China.
Things are changing so quickly at the moment that most analyses end up little more than speculation two weeks later. That’s why Tyrepress contains both the latest news and seeks to set such developments into their medium- and long-term contexts. Take our Tyre Retail coverage for example (see “2020 UK tyre retail ranking” and “Which garages are open during lockdown“) where we list both the current proportions of open tyre retailers and analyse the overall UK tyre retail landscape in its seven-year context.
The electric vehicle (EV) market is experiencing rapid growth as a result of several global trends. Increasing city regulations, a decline in lithium-ion battery prices, and high demand in China are expected to push global EV sales to an unprecedented 1.6 million unit sales, with China leading the market at 49.5 per cent market share, followed by Europe with 25.6 per cent. Frost & Sullivan expects solid-state batteries to be a game-changer, potentially opening up significant growth opportunities for future battery chemistries due to manufacturers’ claims of an energy density 2.5 times higher than lithium-ion batteries.
Global management consultancy Arthur D. Little (ADL) has released a new study, “The Future of Automotive Mobility.” Based on a global survey of 6,500 participants, including customers, industry players and regulators, the report examines how the megatrends of electric mobility, car sharing and autonomous driving are likely to impact on the global automotive ecosystem and future OEM sales.
There is strong evidence Indonesia will eventually replace Thailand as the main automotive production hub in the Association of Southeast Asian Nations (ASEAN), according to Markus Scherer, global automotive sector leader at Ipsos Business Consulting. This could have major implications for automotive manufacturers and suppliers as well as policy planners in both countries, Scherer said.
The tyre market in Costa Rica is forecast to grow during the next few year due to “expanding vehicle fleet and upcoming government reforms to boost growth in construction and transportation sector”, according to the “Costa Rica Tyre Market Forecast & Opportunities, 2020” report published by TechSci.
While ChemChina’s deal with Camfin to take over Pirelli officially got under way this month, not everyone connected to the economy in the People’s Republic was looking so positive. The stock market has been in freefall and industrial production looks to have taken a big hit. The Chinese state’s answer? To devalue the national currency (the yuan renminbi or RMB) three times in a week and make already cheap Chinese exports even cheaper.