Global light vehicle roof systems market- forecasts to 2029

April 2015 SAMPLE Usage and copyright statement

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April 2015 Page 3 Table of contents 1: Introduction ...... 8 About this service...... 0 Definitions ...... 0 Definitions ...... 0 2: PESTER analysis ...... 9 Political ...... 9 Economic ...... 9 Social...... 0 Technological ...... 0 Environmental ...... 0 Regulatory ...... 0 3: Companies ...... 10 Aisin Seiki Co., Ltd...... 10 ASC Inc ...... 10 Beijing Hainachuan Automotive Parts Co...... 0 Heuliez...... 0 Background information:...... 0 Inteva Products, LLC ...... 0 Magna International Inc...... 0 Pininfarina ...... 0 Valmet Automotive ...... 0 Webasto AG ...... 0 Edscha ...... 0 Karmann ...... 0 4: MarketsS...... AMPLE 11 Trends...... 11 Where is the sector heading? ...... 11 Market shares ...... 0 Global ...... 0 Global manufacturer market shares of sunroofs for passenger and light vehicles, 2010-2013, % of volume ...... 0 Europe ...... 0 European manufacturer market shares of sunroofs for passenger cars and light vehicles, 2010-2013, % of volume ...... 0 North America...... 0 North American manufacturer market shares of sunroofs for passenger cars and light vehicles, 2010-2013, % of volume...... 0 Asia-Pacific...... 0 Asia-Pacific manufacturer market shares of sunroofs for passenger cars and light vehicles, 2010-2013, % of volume...... 0 Emerging markets ...... 0

April 2015 Page 4 China...... 0 5: Technologies...... 12 Defining the elements ...... 12 Retractable hard-top roofs...... 0 Overview...... 0 BMW Z4 ...... 0 Nissan Murano CrossCabriolet ...... 0 Renault Wind...... 0 Retractable soft-top roofs ...... 0 Ferrari California ...... 0 Chevrolet 2015 Corvette Z06...... 0 Valmet Automotive's soft-top sound insulation roof system ...... 0 Other ...... 0 Bonding system from Dow Automotive...... 0 Polycarbonate roof systems ...... 0 Webasto's Multi Optional Roof System...... 0 World's largest openable one-piece panorama roof...... 0 Solar roofs ...... 0 Solar sliding roof from Webasto ...... 0 Prius solar roof...... 0 Webasto's solar roof...... 0 6: Forecasts ...... 13 Conventional-sized sunroofs...... 14 Overview...... 14 Forecasts...... 0 Market fitment/penetration rates of conventional-sized sunroofs fitted to newly-assembled passenger cars and light vehicles, 2009-2029, (%)...... 0 Market volumes of conventional-sized sunroofs fitted to newly-assembled passenger cars and light vehicles, 2009-2029, ('000s units) ...... 0 Large sunrSoofs...... AMPLE 0 Overview...... 0 Applications ...... 0 North America...... 0 Western Europe...... 0 Japan...... 0 Forecasts...... 0 Market fitment/penetration rates of large sunroofs fitted to newly-assembled passenger cars and light vehicles, 2009-2029, (%) ...... 0 Market volumes of large sunroofs fitted to newly-assembled passenger cars and light vehicles, 2009-2029, ('000s units)...... 0 roofs ...... 0 Retractable hard-top roofs ...... 0 Overview...... 0 Applications ...... 0 North America...... 0

April 2015 Page 5 Western Europe...... 0 Japan...... 0 China...... 0 Forecasts...... 0 Market fitment/penetration rates of etractabler hard top roofs fitted to newly-assembled passenger cars and light vehicles, 2009-2029, (%) ...... 0 Market volumes of retractable hard top roofs fitted to newly-assembled passenger cars and light vehicles, 2009-2029, ('000s units)...... 0 Retractable soft-top roofs ...... 0 Overview...... 0 Applications ...... 0 North America...... 0 Western Europe...... 0 Central Europe ...... 0 Japan...... 0 Forecasts...... 0 Market fitment/penetration rates of etractabler soft top roofs fitted to newly-assembled passenger cars and light vehicles, 2009-2029, (%)...... 0 Market volumes of retractable soft top roofs fitted to newly-assembled passenger cars and light vehicles, 2009-2029, ('000s units) ...... 0 7: Archive...... 0 Ferrari Superamerica ...... 14 Nissan 370Z ...... 14 Solar roofsS from Quantum Fuel SystemsAMPLE Technologies Worldwide...... 14

April 2015 Page 6 Tables

Global manufacturer market shares of sunroofs for passenger cars and light vehicles, 2010-2013, % of volume ...... 0 European manufacturer market shares of sunroofs for passenger cars and light vehicles, 2010-2013, % of volume ...... 0 North American manufacturer market shares of sunroofs for passenger cars and light vehicles, 2010-2013, % of volume ...... 0 Asia-Pacific manufacturer market shares of sunroofs for passenger cars and light vehicles, 2010-2013, % of volume...... 0 Market fitment/penetration rates of conventional-sized sunroofs fitted to newly-assembled passenger cars and light vehicles, 2009-2029, (%)...... 0 Market volumes of conventional-sized sunroofs fitted to newly-assembled passenger cars and light vehicles, 2009-2029, ('000s units) ...... 0 Market fitment/penetration rates of large sunroofs fitted to newly-assembled passenger cars and light vehicles, 2009-2029, (%) ...... 0 Market volumes of large sunroofs fitted to newly-assembled passenger cars and light vehicles, 2009-2029, ('000s units)...... 0 Market fitment/penetration rates of etractabler hard top roofs fitted to newly-assembled passenger cars and light vehicles, 2009-2029, (%) ...... 0 Market volumes of retractable hard top roofs fitted to newly-assembled passenger cars and light vehicles, 2009-2029, ('000s units)...... 0 Market fitment/penetration rates of etractabler soft top roofs fitted to newly-assembled passenger cars and light vehicles, 2009-2029, (%)...... 0 Market volumes of retractable soft top roofs fitted to newly-assembled passenger cars and light vehicles, 2009-2029, ('000s units) ...... 15 SAMPLE

April 2015 Page 7 Introduction

Since Mercedes-Benz offered the first sunroof in 1932, the ways in which automakers have sought to let the sun shine into the cabin have become increasingly complex. In terms of future trends, Thomas Becher, chief engineer of ArvinMeritor’s roof systems business based in Dietzenbach, Germany, told just-auto: “Solid roof modules without additional integrated features seem to have a cost disadvantage versus simple sheet-metal roof-skin structures. We see a trend towards roof modules with integrated opening systems (multi-panel etc) particularly because the modular technology supports the trend towards top-loading assembly processes on the car manufacturer’s assembly line. This provides potential for utilisation of various roof options on one body interface."

Jos Sanders, director of advanced technology at Inalfa Roof Systems Group, still sees a trend in the growing size of sunroofs with bigger take-rates across more vehicle segments. He told us: “This, at the same time, drives a sense of urgency for lowering the total weight of sunroofs. Customers and consumers do appreciate that low-weight solutions require more advanced material choices and technologies. However, there has to be a clear performance factor to rectify additional costs. This is where technologies like solar-powered sunroofs are struggling. The output performance and cost structure are not balanced yet.”

Meanwhile, the expanding convertible segment is crossing all vehicle segments. It is no longer a preserve of the luxury class. Roof makers say that growing consumer acceptance as well as all-weather convertible top concepts such as retractable will contribute to the market’s expansion. While electrically operated convertible roof systems are industry standard for luxury vehicles, roof makers are continuously working toward developing smaller, lighter and cheaper systems. In terms of the pace of growth of the retractable market in North America, Jan Just, executive vice president of Magna Car Top Systems,S told us: “BeforAMPLEe the economic downturn we have been seeing a slow but steady growth of the RHT market in North America.

April 2015 Page 8 PESTER analysis Political

• Interest in the use of hybrid and electric vehicles has grown over the past decade, mainly due to the quest for improved fuel efficiency and lower emissions.

Converging market drivers such as congestion charging; oil pricing; energy security; vehicle maintenance costs; and punitive legislative measures on vehicle emissions, are now applicable to a global marketplace. There can be no doubt that the ‘green’ credentials of hybrids have proven attractive to consumers, national and state governments, and manufacturers. To help improve fuel economy of such vehicles, polycarbonate glazing is being used on certain hybrid vehicles, including the roof. For example, GM’s relies heavily on resins and composite materials from GE Plastics to reduce its mass, allowing lower fuel consumption, fewer carbon dioxide emissions and improved overall performance. GE fuel-saving technologies on the Chevy Volt include roof, rear deck lid and fixed side glazing made with Lexan GLX resins and Exatec coating technology.

Economic

• The variation of roof systems will continue to grow.

There will be new kinds of in car segments where we have seldom seen open tops before, like SUVs, crossovers, and the small vehicle segment. Tough competition will result in innovations with new materials and designs, all this at very aggressive pricing.

• Crossover vehicles are a particularly strong segment for sunroofs.

Those vehicles have a large roof skin making them ideal for the integration of large roof opening systems. The owners of those vehicles look for comfortS options, like ‘fresh air’AMPLE or ‘natural daylight’.

April 2015 Page 9 Companies Aisin Seiki Co., Ltd.

Aisin Canada operates in southwestern Ontario. In 2012, it added two new products to its manufacturing unit in Stratford. This plant produces sunroofs for the Toyota RAVX and the Corolla that are exported directly to Toyota.

In 2012, Aisin Seiki established a sunroof production company, Aisin Wuxi Body Parts Company, jointly with Hsin Chong Machinery Works and Elite Sewing Machine Manufacturing Company in Wuxi, China. The move has enabled Aisin Group to strengthen its local production system in the automotive market in China. Aisin Wuxi Body Parts along with Hsin Chong Machinery has since taken over the sunroof production division of Wuxi Mingfang, a subsidiary of Hsin Chong.

ASC Inc

ASC Incorporated (formerly known as American Sunroof Company and redefined as American Specialty Cars) is organised into two business units: Open Air Systems and Creative Services. Its Open Air Systems business designs a range of soft-tops and retractable hardtops.

The brands for which ASC has built convertible systems over the years are: BMW (ZX, ZX); Buick (Reatta, Riviera); Cadillac (Eldorado); Chevrolet (Camaro, Cavalier, Corvette, SSR); Dodge (Shadow, Dalota); Ford (ASC/McLaren Mustang); Hot Rods & Horsepower (Dearborn Deuce Convertible); Infiniti (MXX); Mitsubishi (XXXXGT, Eclipse); Nissan (XXXSX, 3XXZX); Pontiac (Firebird, Sunbird, Sunfire); Porsche (XXX SX, 9XX); Renault (Alliance GTA); Rover (Metro); Saab (XXX Turbo); and Toyota (Celica, Paseo, Cynos, Solara).

ASC is headquartered in Warren, Michigan. Over the past few years, ASC has sold a number of its facilities, blaming the closures on its financial difficulties,S caused by decliningAMPLE sales in the automotive industry.

April 2015 Page 10 Markets Trends

Panoramic sunroofs stretching the length and breadth of a vehicle are becoming increasingly popular on both sides of the Atlantic. The trend is toward roof systems, mainly of glass, with big openings that can be adjusted even during driving. These designs give the best of both worlds: saving on cost (compared to a convertible) and adding to the versatility of the car.

In fact, an increasing number of automakers are offering models featuring large glass roofs. One reason is that large areas of glass give a sense of openness and freedom. The selection on offer nowadays is varied, ranging from the closed panoramic glass roof and so-called twin panels or multi- panels through to the lamella sunroof.

The desire of many car designers to include increasingly large amounts of glass in their cars presents glassmakers with new challenges because glass cannot be shaped at will like steel or plastic. Other trends include producing a smooth roof line using several glass panels, e.g. producing windscreens which extend up into the glass roof.

Over the past few years, novel retractable hardtop designs have enabled automakers achieve that appearance of a coupé yet with four comfortable seats.

It is clear that the expanding convertible segment is crossing all vehicle segments. It is no longer a preserve of the luxury class. Roof makers say that growing consumer acceptance as well as all-weather convertible top concepts such as its retractable hardtops will contribute to the market’s expansion. While electrically operated convertible-roof systems are industry standard for luxury vehicles, roof makers are continuously working toward developing smaller, lighter and cheaper systems.

WhereS is the sectorAMPLE heading?

As we see it there are a number of trends emerging in the vehicle roof market, including:

◦ The increased use of overhead glasswill continue and become more common on lower-priced vehicles.

April 2015 Page 11 Technologies Defining the elements

Inalfa Roof Systems (now owned by Beijing Hainachuan Automotive Parts Co Ltd) supplies a range of vehicle roof systems for passenger cars and trucks. The company defines its oofr system products as follows:

▪ Standard roofs – these are single-panel roof systems which have a glass panel that is on average smaller than X.X-m². These sunroofs are assembled from inside the vehicle (known as bottom-loaded). Inalfa says that there are two main types of standard sunroof:

Tilt-vent-slide roof – here, the glass panel has a tilt position for ventilation and a slide position where the glass panel slides inside the vehicle between the roof surface and the headliner.

Spoiler roof– a spoiler roof shares the same functionality as a tilt-vent-slide roof. However, in the slide position the panel slides on the outside of the vehicle in a tilted position.

▪ Advanced roofs– Inalfa defines these as being technically more complex than standard roofs and have a glass panel larger than X.X-m². These roofs can be assembled both as bottom-loaded and as top-loaded systems. The company points out that a bottom-loaded system is generally bolted to a roof reinforcement which forms part of the vehicle, whereas a top-loaded system is glued from above onto the vehicle. Inalfa says the main types of advanced roof systems are:

Top slider roof– this roof type differs from the spoiler roof, because the sliding movement is done in a near horizontal position, whereas the spoiler slides in a tilted position. This feature is mainly chosen for styling purposes, offering the least interference with the original vehicle styling. To achieve this, an additional fixing point at the rear end of the glass panel is required which also makes the mechanism suitable for larSge glass panels. AMPLE

April 2015 Page 12 Forecasts

This section sets out our estimates and forecasts of a variety roof systems fitted to newly-assembled passenger cars and light vehicles across XX of the world’s largest light vehicle markets - which collectively account for more than XX percent of world light vehicle production. Our forecasts range is from 2009 through to 2019 with spot forecasts for 2024 and 2029.

Here, our forecasts are divided into the following three product groups:

▪ Conventional-sized sunroofs ▪ Large sunroofs ▪ Convertible roofs

Each forecast group sets out first the market fitment/penetration percentage rates followed by market volumes (‘XXXs).

Our forecasts are not extrapolative but dependent on the underlying drivers of supply and demand.

Each forecast is based on vehicle data prepared by our partner, LMC Automotive. The vehicle data (passenger cars and light commercial vehicles) includes:

▪ North America - US, Canada and Mexico; ▪ Mercosur - Brazil and Argentina; ▪ Western Europe - Germany, Italy, France, UK, Spain, Portugal, Netherlands, Belgium, Sweden, Austria, and Morocco; ▪ Central Europe - Turkey, Bulgaria, Czech Republic, Poland, Slovakia, Hungary, Romania, Serbia and Slovenia; ▪ Russia; ▪ SJapan; AMPLE ▪ China; ▪ India; ▪ Korea; ▪ Thailand; ▪ Other Asia - Indonesia, Malaysia, Taiwan and Philippines; ▪ Iran; ▪ South Africa; ▪ Australia.

These forecasts are updated quarterly or as and when major changes require assumptions to be amended. Full revision history for all of our forecast pages within this section allow you to see what has changed and when.

April 2015 Page 13 Conventional-sized sunroofs

Overview

As Inalfa Roof Systems Archive

This section of the intelligence service contains archived pages of significant interest, but which no longer require updating.

Ferrari Superamerica

In May 2011, the Ferrari Superamerica XX made its public debut at the Villa d’Este Concours, Italy. It incorporates elements of the SA APERTA, an open-top version of the current XXX - and the XXXM Superamerica. Similar to the XXXM Superamerica originally unveiled in 2003, the Ferrari Superamerica XX features a rotating one-piece roof section. It is made of carbon fibre (instead of the earlier car’s glass), incorporates a rear screen and swivels to retract under a carbon fibre boot.

Nissan XXXZ Roadster

Magna Car Top Systems is producing the soft-top convertible system for the Nissan XXXZ Roadster, which is being sold in the North American market. Production of the roof system is being completed in Kanagawa Prefecture, Japan.

Magna points out that, with the convertible top in the closed position, an automatic locking mechanism at the windshield keeps it shut without the use of manually operated latches or handles.

SolarS roofs fromAMPLE Quantum Fuel Systems Technologies Worldwide

In November 2010, Quantum Fuel Systems Technologies Worldwide Inc received a US$X.Xm production release for the first production series of solar roofs for the . Under the release, Quantum, with affiliate Asola of Germany, initiated volume production of the solar roofs for the Fisker Karma in early 2011. At the time of production launch, the partners claimed that the roof was the largest continuous and most highly curved solar roof in a passenger car application.

April 2015 Page 14 Market volumes of retractable soft top roofs fitted to newly- assembled passenger cars and light vehicles, 2XXX-2XXX, ('XXXs units) Market 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2024 2029

North America XX.XX XX.XX XX.XX XXX.XX XXX.XX XXX.XX XXX.XX XXX.XX XXX.XX XXX.XX XXX.XX XXX.XX XXX.XX

Mercosur X.XX X.XX X.XX X.XX X.XX X.XX X.XX X.XX X.XX X.XX X.XX X.XX X.XX

Western Europe XXX.XX XXX.XX XXX.XX XXX.XX XXX.XX XXX.XX XXX.XX XXX.XX XXX.XX XXX.XX XXX.XX XXX.XX XXX.XX

Central Europe XX.XX XX.XX XX.XX XX.XX XX.XX XX.XX XX.XX XX.XX XX.XX XX.XX XX.XX XX.XX XX.XX

Russia X.XX X.XX X.XX X.XX X.XX X.XX X.XX X.XX X.XX X.XX X.XX X.XX X.XX

Japan X.XX X.XX X.XX X.XX X.XX X.XX X.XX XX.XX X.XX X.XX X.XX X.XX X.XX

China X.XX X.XX X.XX X.XX X.XX X.XX X.XX X.XX X.XX X.XX X.XX X.XX X.XX

India X.XX X.XX X.XX X.XX X.XX X.XX X.XX X.XX X.XX X.XX X.XX X.XX X.XX

Korea X.XX X.XX X.XX X.XX X.XX X.XX X.XX X.XX X.XX X.XX X.XX X.XX X.XX

Thailand X.XX X.XX X.XX X.XX X.XX X.XX X.XX X.XX X.XX X.XX X.XX X.XX X.XX

Other Asia X.XX X.XX X.XX X.XX X.XX X.XX X.XX X.XX X.XX X.XX X.XX X.XX X.XX

Iran X.XX X.XX X.XX X.XX X.XX X.XX X.XX X.XX X.XX X.XX X.XX X.XX X.XX SouthS Africa X.XX AMPLEX.XX X.XX X.XX X.XX X.XX X.XX X.XX X.XX X.XX X.XX X.XX X.XX Australia X.XX X.XX X.XX X.XX X.XX X.XX X.XX X.XX X.XX X.XX X.XX X.XX X.XX

Total XX markets XXX.XX XXX.XX XXX.XX XXX.XX XXX.XX XXX.XX XXX.XX XXX.XX XXX.XX XXX.XX XXX.XX XXX.XX XXX.XX

Source: just-auto, LMC Automotive and industry sources

April 2015 Page 15 © 2015 All content copyright Aroq Limited. All rights reserved.

If you would like to find out about our online multi-user services for your team or organisation, please contact:

Mike Chiswell Senior QUBE Business Manager Tel: +44 (0)1527 573 608 Toll free from US: 1-866-545-5878 Email: [email protected] http://www.just-auto.com/qube SAMPLE

April 2015 Page 16