DOCSLIB.ORG

China New Energy Vehicle Report October 2017

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
China New Energy Vehicle Report October 2017 China New Energy Vehicle Report October 2017 Copyright © 2017, JSC Automotive. No part of this report may be used or reproduced in any form or by any means, without JSC Automotive’s prior written agreement. Viewing/using all data contained shall constitute a written contract between the viewer/user and JSC Automotive that the viewer/user shall not violate JSC Automotive’s above stated copyright policy. Disclaimer: Every attempt has been made to ensure the accuracy of the information provided in this report. JSC Automotive claims no responsibility for any loss or damage resulting from any publication, error, or omission in this report. Table of contents 1 Summary .................................................................................................................................................................. 6 2 Forecast NEVs ........................................................................................................................................................ 12 3 Current situation for EV and plug-in hybrid passenger cars .................................................................................. 14 4 Regulation .............................................................................................................................................................. 20 4.1 Subsidies ......................................................................................................................................................... 20 4.2 CAFC (Corporate Average Fuel Consumption ................................................................................................. 21 4.3 Carbon Credit Scheme and NEV Mandate ...................................................................................................... 23 5 Reasonable game plans for reaching the CAFC and the NEV quota ...................................................................... 26 6 Batteries ................................................................................................................................................................. 36 7 Charging stations ................................................................................................................................................... 42 8 Longterm visions of the government ..................................................................................................................... 46 8.1 NEV Roadmap ................................................................................................................................................. 46 8.2 National Intelligent Connected Vehicle Pilot Zone ......................................................................................... 46 9 New entrants for NEVs ........................................................................................................................................... 48 9.1 Nio ................................................................................................................................................................... 51 9.2 Future Mobility Corp. ...................................................................................................................................... 52 9.3 BAIC BJEV ........................................................................................................................................................ 53 9.4 Changjiang EV ................................................................................................................................................. 53 9.5 LeEco ............................................................................................................................................................... 53 9.6 Faraday Future ................................................................................................................................................ 54 9.7 Lucid ................................................................................................................................................................ 54 9.8 Wanxiang Group ............................................................................................................................................. 55 9.9 Techrules ......................................................................................................................................................... 55 9.10 CH-Auto Technology ..................................................................................................................................... 55 9.11 Jiangsu Minan Auto ....................................................................................................................................... 56 10 Commercial vehicles ............................................................................................................................................ 57 11 EV Car Sharing Schemes ....................................................................................................................................... 59 11.1 The problem with parking lots ...................................................................................................................... 59 11.2 EVCard ........................................................................................................................................................... 60 China New Energy Vehicle Report October 2017 · Copyright © JSC Automotive 2017, all rights reserved Page 2 11.3 Microcity EV .................................................................................................................................................. 61 11.4 LeShare .......................................................................................................................................................... 61 12 Major subsidy fraud for EVs ................................................................................................................................. 62 Table of figures Figure 1: Forecast EV and Plug-In Hybrid production China ......................................................................................... 13 Figure 2: EV passenger cars monthly production ......................................................................................................... 14 Figure 3: Market share EV passenger cars by brand 2017 ........................................................................................... 15 Figure 4: Top 15 EVs ..................................................................................................................................................... 16 Figure 5: BAIC EC Series ................................................................................................................................................ 16 Figure 6: ZD D1/D2 (owned by Geely) .......................................................................................................................... 17 Figure 7: Chery eQ ........................................................................................................................................................ 17 Figure 8: BYD e6 ........................................................................................................................................................... 17 Figure 9: Plug-In hybrid passenger car production ....................................................................................................... 18 Figure 10: Plug-in hybrid passenger car by model YTD 2017 (August) ......................................................................... 19 Figure 11: Subsidies for EV passenger cars .................................................................................................................. 20 Figure 12: Corporate Average Fuel Consumption Limits .............................................................................................. 21 Figure 13: Super credits for CAFC calculation .............................................................................................................. 22 Figure 14: Super credits for the NEV mandate ............................................................................................................. 23 Figure 15: Credits that current EVs would get in 2020 ................................................................................................. 24 Figure 16: Cost and fuel savings of EVs and hybrids ..................................................................................................... 26 Figure 17: Cost and fuel benefits of traditional powertrain components .................................................................... 27 Figure 18: Penetration rates for traditional fuel saving technologies .......................................................................... 28 Figure 19: Potential game plan for Beijing-Benz 2020 ................................................................................................. 29 Figure 20: Potential game plan for Volkswagen 2020 .................................................................................................. 30 Figure 21: Potential game plan for Geely 2020 ............................................................................................................ 31 Figure 22: Potential game plan for BYD 2020 ............................................................................................................... 33 Figure 23: Forecast for 48V mild hybrid equipped card by brand in China
Load more

Recommended publications
  • Ginevra 2017 Al Via Lo Show Più Ricco E Prestigioso Dell'anno Tra L'attesa Di Nuovi Accordi E Centinaia Di Anteprime
    I modelli Tendenze Le 10 auto Idee crossover che ancora e le citycar fanno sognare del futuro LA REPUBBLICA MARTEDÌ 7 MARZO 2017 NUMERO 120 Ginevra 2017 Al via lo show più ricco e prestigioso dell’anno Tra l’attesa di nuovi accordi e centinaia di anteprime Il Salone delle alleanze SUPPLEMENTO GRATUITO AL NUMERO ODIERNO DE “LA REPUBBLICA” ■ SPEDIZIONE ABBONAMENTO POSTALE ■ ART: 1, LEGGE 46/04 DEL27 FEBBRAIO 2004 ■ ROMA la Repubblica RAUTO MARTEDÌ 7 MARZO 2017 3 mila visitatori. Numeri da grande show Ginevra 2017 Cina dell’auto e termometro di un settore che or- Nel Salone mai sembra definitivamente uscito dalla Il risiko dell’auto Vendite record crisi. «I sondaggi rivelano come il 20% dei visitatori - ha detto Maurice Turrettini, pre- scalda il Salone e prime sbandate dei balocchi sidente del Salone - abbia intenzione di ac- quistare un’auto nuova nell’anno della visi- PAOLO GRISERI ANGELO AQUARO ta, un altro 28% entro il successivo. E con- 4 17 dove l’auto trariamente a quanto si pensi il pubblico è A CURA DI giovane: il 50% dei visitatori è sotto i 35 an- VALERIO BERRUTI CON ni. Oltretutto il 25% sono donne». Il dizionario Le supercar VINCENZO BORGOMEO Saranno dunque giorni lunghi e pieni di DISEGNI fa sognare sorprese. Con gli occhi puntati su accordi e Dalla A alla Z Le magnifiche 10 FRANCESCA GHERMANDI nuove alleanze che potrebbero cambiare DIRETTORE RESPONSABILE equilibri e scenari del mercato. Ma anche il MARIO CALABRESI VALERIO BERRUTI pubblico non avrà un momento per distrar- le parole dello show belle e milionarie GRUPPO EDITORIALE L’ESPRESSO SPA si.
    [Show full text]
  • 2017 Passenger Vehicles Actual and Reported Fuel Consumption: a Gap Analysis
    2017 Passenger Vehicles Actual and Reported Fuel Consumption: A Gap Analysis Innovation Center for Energy and Transportation December 2017 1 Acknowledgements We wish to thank the Energy Foundation for providing us with the financial support required for the execution of this report and subsequent research work. We would also like to express our sincere thanks for the valuable advice and recommendations provided by distinguished industry experts and colleagues—Jin Yuefu, Li Mengliang, Guo Qianli,. Meng Qingkuo, Ma Dong, Yang Zifei, Xin Yan and Gong Huiming. Authors Lanzhi Qin, Maya Ben Dror, Hongbo Sun, Liping Kang, Feng An Disclosure The report does not represent the views of its funders nor supporters. The Innovation Center for Energy and Transportation (iCET) Beijing Fortune Plaza Tower A Suite 27H No.7 DongSanHuan Middle Rd., Chaoyang District, Beijing 10020 Phone: 0086.10.6585.7324 Email: [email protected] Website: www.icet.org.cn 2 Glossary of Terms LDV Light Duty Vehicles; Vehicles of M1, M2 and N1 category not exceeding 3,500kg curb-weight. Category M1 Vehicles designed and constructed for the carriage of passengers comprising no more than eight seats in addition to the driver's seat. Category M2 Vehicles designed and constructed for the carriage of passengers, comprising more than eight seats in addition to the driver's seat, and having a maximum mass not exceeding 5 tons. Category N1 Vehicles designed and constructed for the carriage of goods and having a maximum mass not exceeding 3.5 tons. Real-world FC FC values calculated based on BearOil app user data input.
    [Show full text]
  • Daimler Annual Report 2014
    Annual Report 2014. Key Figures. Daimler Group 2014 2013 2012 14/13 Amounts in millions of euros % change Revenue 129,872 117,982 114,297 +10 1 Western Europe 43,722 41,123 39,377 +6 thereof Germany 20,449 20,227 19,722 +1 NAFTA 38,025 32,925 31,914 +15 thereof United States 33,310 28,597 27,233 +16 Asia 29,446 24,481 25,126 +20 thereof China 13,294 10,705 10,782 +24 Other markets 18,679 19,453 17,880 -4 Investment in property, plant and equipment 4,844 4,975 4,827 -3 Research and development expenditure 2 5,680 5,489 5,644 +3 thereof capitalized 1,148 1,284 1,465 -11 Free cash flow of the industrial business 5,479 4,842 1,452 +13 EBIT 3 10,752 10,815 8,820 -1 Value added 3 4,416 5,921 4,300 -25 Net profit 3 7,290 8,720 6,830 -16 Earnings per share (in €) 3 6.51 6.40 6.02 +2 Total dividend 2,621 2,407 2,349 +9 Dividend per share (in €) 2.45 2.25 2.20 +9 Employees (December 31) 279,972 274,616 275,087 +2 1 Adjusted for the effects of currency translation, revenue increased by 12%. 2 For the year 2013, the figures have been adjusted due to reclassifications within functional costs. 3 For the year 2012, the figures have been adjusted, primarily for effects arising from application of the amended version of IAS 19. Cover photo: Mercedes-Benz Future Truck 2025.
    [Show full text]
  • Geely Automobile Holdings (175 HK)– BUY HKD12.00 Key Trends in China’S PV Market Over the Next Three Years: 1
    Sector Initiation Hong Kong ! 5 May 2017 Consumer Cyclical | Automobiles & Components Neutral Automobiles & Components Stocks Covered: 3 Competition In The New Era Ratings (Buy/Neutral/Sell): 1 / 2 / 0 We expect growth in China’s PV market to slow to 5%/3% in 2017/2018 Top Pick Target Price respectively, due to diminishing effects of purchase tax cuts. We see three Geely Automobile Holdings (175 HK)– BUY HKD12.00 key trends in China’s PV market over the next three years: 1. Local brands to expand market share; 2. EV sales to grow at a higher pace vs fuel cars; 3. SUVs to continue to lead the market. China’s PV sales and growth rate on the uptrend Our sector Top Pick is Geely on its improved model portfolio and good synergy with Volvo. We also initiate coverage on BYD and GWM with NEUTRAL recommendations. Our sector call is NEUTRAL. We initiate coverage on China’s auto manufacturers with a NEUTRAL weighting. We expect passenger vehicles and minibus (collectively known as PV) sales in 2017/2018 to grow by 5%/3% respectively, slowing from 7%/15% registered in 2015/2016 respectively. This is as due to the diminishing effects of purchase tax discounts on cars with 1.6L displacement and below, to 25% starting 2017 from 50% in Oct 2015. Note that part of 2017’s PV sales were pre- sold in 2016, and part of PV sales in 2018 would be partially pre-sold in 2017. Solid growth expected in various segments, such as sport utility vehicles (SUVs), electric vehicles (EVs), smart vehicles, cars with displacements above 1.6L, premium brands, price-insensitive auto buyers, and in areas such as lower- Source: China Passenger Car Association (CPCA) tier cities.
    [Show full text]
  • Brochure Emgrand 7 2019 Copy CL
    EVERYTHING YOU’LL NEED AND MORE ExploreANewWorld Geely, is a leading automotive company that prides in providing affordable, safe, energy efficient and environment-friendly cars. A flawless fusion of European technology and Chinese production has made Geely feature in the Fortune Global 500 list of companies. A fully integrated independent auto firm, Geely Emgrand is committed to quality and excellence at every stage, right from design, research and development to production, distribution and servicing. The all new Geely Emgrand 7 redefines your driving experience in a whole new way, giving you everything you need. And then some more. Style with its sleek new elegant design, comfort with enhanced features, performance with its powerful features at a price that makes it all the more exciting! Designed to exceed expectations, it's a whole new way to explore your world. IT’S THE RIPPLE EFFECT! Explore a whole new upper grille that embodies the natural beauty of a water ripple to make the front end of the Emgrand 7 look stylish, authoritative and bold. DAZZLE THE WORLD! With 9 dazzling LED lights, let the world take notice of you. Its crystal diamond daytime running lights come with a blade-type advanced shape, ready to make heads turn anywhere you go. LIKE THE EYE OF AN EAGLE! Light up the roads with the eagle-eye headlights in the Emgrand 7. It’s sharper, better and ready to announce your arrival. MULTI-TASKING MADE EASY! Its D-shape, leather steering wheel is mounted with the audio controls, cruise control and Bluetooth so that you can use them all without taking your eyes off the road.
    [Show full text]
  • 0407 Gdp Sun D
    0407­GDP­SUN_Classifieds­­4/5/2013­­8:30­PM­­Page­D1 WWW.GWINNETTDAILYPOST.COM SUNDAY, APRIL 7, 2013 D1 PUBLIC SALES/ AU CT IONS 6SHFLDO(GXFDWLRQ&HUWL¿HG7HDFKHU-RE)DLU ER MONITORS; 6 SMALL TABLES; 2 COMPUTER TABLES; 1 AIR PURIFIER; 1 SMALL HEATER; 1 CRE- DENZA; 2 WOOD CABINETS; 1 LEATHER OFFICE CHAIR; 2 FAX MACHINES; 1 COPIER; 1 PRINTER; and 2 WOOD TABLES, the said sale to be at public outcry to the high- est cash bidder pursuant to O.C.G.A. §§11-1-201(31.1) and 11-9-610. Secured Party may offer the property individually, in lots or sell all the property as a single lot and Secured Party may bid at the said sale and credit any sums for Invest Your Tax Dollars Wisely in which it buys all or any por- tion of the property against an Exciting Career in Dentistry! the secured debt and judg- ment lien it holds against the property of Debtor. ALL Become a Dental Assistant PROPERTY BEING SOLD AS IS WITHOUT ANY WARRAN- in only 10 weeks! TIES INCLUDING ANY WAR- RANTIES OF TITLE, MER- AAAAAAAAA LOCATEDLOCATED IN BEAUTIFULBEAUTIFUL METRORO ATLANTAATLANTAAAAAAAAAAAA Gwinnett Dental Career Academy CHANTABILITY OR FITNESS FOR ANY PARTICULAR PUR- Dental Assistant Certicate Program POSE, ANY AND ALL WAR- RANTIES BEING EXPRESSLY *ZLQQHWW&RXQW\3XEOLF6FKRROV Oered on Saturdays, 10 weeks to complete. DISCLAIMED HEREBY. For more information: Any property bought will Become a part of Georgia’s Largest and Best School System! be by cash payment made gdcaweb.com upon the conclusion of the 7KHIDLULVIRUWKRVHZKRKROGFHUWL¿FDWHVRUZLOOEHFHUWL¿HGE\IDOOLQVSHFLDOHGXFDWLRQ sale to the representative of Secured Party at the sale.
    [Show full text]
  • WANADA Joins NADA/IHS Automotive Forum in New York
    WANADA Bulletin # 14-12 April 10, 2012 Headlines… WANADA joins NADA/IHS Automotive Forum in New York The WANADA WAS reps attend press days at NYIAS to assess industry trends and to meet with key exhibitors Bulletin was Global auto sales to double to 120 million by 2020 inadvertently NADA files more comments on issues raised at FTC Roundtables launched on April Rockville City Council discusses changes to the signage codes 6. We apologize Volkswagen Up! city car chosen World Car of the Year for any confusion Register today for the WANADA Open May 16 at Lansdowne Resort this may have caused. Staying ahead… WANADA joins NADA/IHS Automotive Forum in New York Industry spokesmen cautiously optimistic about the future Cautious optimism abounded among the speaker line up of industry notables weighing in at the NADA/IHS Automotive Forum last Tuesday, April 3, in New York as the Big Apple’s 2012 Auto Show was opening. Things are looking up in the auto industry, more so than the world economy at large, and that’s good news, particularly in comparison to the economic realities three years ago. However, there is still potential for serious setbacks to the industry and world economy. Carlos Ghosn, CEO Renault- Nissan Among the industry and allied industry representatives attending were dealer associations, including WANADA, which participated in spirited Q&A with panelists over the course of the day long Forum. Carlos Ghosn, of the Renault-Nissan Alliance, keynoted the Forum and was joined by fellow CEOs Reid Bigland, Dodge brand, Chrysler Group; Jonathan Browning, VWoA; Jim Lentz, TMS; and Ludwig Willisch, BMW/NA.
    [Show full text]
  • State of Automotive Technology in PR China - 2014
    Lanza, G. (Editor) Hauns, D.; Hochdörffer, J.; Peters, S.; Ruhrmann, S.: State of Automotive Technology in PR China - 2014 Shanghai Lanza, G. (Editor); Hauns, D.; Hochdörffer, J.; Peters, S.; Ruhrmann, S.: State of Automotive Technology in PR China - 2014 Institute of Production Science (wbk) Karlsruhe Institute of Technology (KIT) Global Advanced Manufacturing Institute (GAMI) Leading Edge Cluster Electric Mobility South-West Contents Foreword 4 Core Findings and Implications 5 1. Initial Situation and Ambition 6 Map of China 2. Current State of the Chinese Automotive Industry 8 2.1 Current State of the Chinese Automotive Market 8 2.2 Differences between Global and Local Players 14 2.3 An Overview of the Current Status of Joint Ventures 24 2.4 Production Methods 32 3. Research Capacities in China 40 4. Development Focus Areas of the Automotive Sector 50 4.1 Comfort and Safety 50 4.1.1 Advanced Driver Assistance Systems 53 4.1.2 Connectivity and Intermodality 57 4.2 Sustainability 60 4.2.1 Development of Alternative Drives 61 4.2.2 Development of New Lightweight Materials 64 5. Geographical Structure 68 5.1 Industrial Cluster 68 5.2 Geographical Development 73 6. Summary 76 List of References 78 List of Figures 93 List of Abbreviations 94 Edition Notice 96 2 3 Foreword Core Findings and Implications . China’s market plays a decisive role in the . A Chinese lean culture is still in the initial future of the automotive industry. China rose to stage; therefore further extensive training and become the largest automobile manufacturer education opportunities are indispensable.
    [Show full text]
  • Sustainability Report 2013
    00 Umschlag_ENG_2013 20.03.14 14:25 Seite 1 Imprint and contact Key figures 2013 Imprint and contact. Key figures 2013. 01 Financial year 2013 Unit 2013 2012 2011 Corporate profile Revenue1 in millions of € 117,982 j 114,297 106,540 Operating profit/EBIT1 in millions of € 10,815 j 8,820 8,755 Profit before taxes on income1 in millions of € 10,139 j 8,116 8,449 Publisher Daimler AG, Mercedesstraße 137, Group net income in millions of € 8,720 j 6,830 6,029 70327 Stuttgart, Germany Total vehicle sales in millions 2.35 j 2.2 2.1 For the publisher Thomas Fröhlich Unit sales of Mercedes-Benz Cars 1,565,563 j 1,451,569 1,381,416 Unit sales of Daimler Trucks 484,211 j 461,954 425,756 Publications Manager Mirjam Bendak Unit sales of Mercedes-Benz Vans 270,144 j 252,418 264,193 Editing and design SLau Konzepte & Kommunikation (consulting/editing) Unit sales of Daimler Buses 33,705 j 32,088 39,741 TEQPRESS – Redaktionsbüro für Technik and different Contract volume of Daimler Financial Services in millions of € 83,538 j 79,986 71,730 editors (editing pp. 20–35) TEAMKOM Kommunikation&Design (design) Product responsibility Daimler Sustainability Report 2013. Report Sustainability Daimler EQS Group AG (interactiv online report) Research and development expenditure on environmental protection in millions of € 2,471 j 2,369 2,159 Photography Bildarchiv Daimler AG, Thinkstock (p. 24) CO2 emissions of the European fleet (vehicles from Mercedes-Benz Cars) in g CO2/km 134 l 140 150 Production Dr.
    [Show full text]
  • Effiziente Mobilität Durch Leichtbau Und Alternative Antriebe Gastkommentar Von Manfred Jerzembek, Motorjournalist
    DAS MAGAZIN FÜR INFORMATIONEN AUS DEM AUTOMOBIL-CLUSTER Ausgabe 2 - Juni 2017 quarterly Effi ziente Mobilität Hersteller forcieren Leichtbau und alternative Antriebe Seite 4 Mercedes AMG GT Concept Front, Bild: Daimler www.automobil-cluster.at EDITORIAL Tempo halten! Immer rascher fi nden Technologien, die wir gerade noch als „Mobilität der Zukunft“ bezeichnet hatten, ihre Anwendung in der Gegenwart. Elektro-, Gas- oder Brennstoffzellen-Antriebe sind ebenso bereits in der Gegenwart angekommen, wie die Digitalisierung und der 3-D Druck in der Autoproduktion. Das Tempo der Realisierung phantastischer Ideen wird immer höher und die Zulieferer müssen dieses Tempo aufnehmen und mithalten. Der Automobil-Cluster informiert regelmäßig über Trends, die sich derzeit in der Zukunft, bald aber in der Gegenwart der Automobilindustrie befi nden, um die Zulieferunternehmen auf neue Strömungen vorzubereiten. AC-Partner sind in der Regel vorne mit dabei und zeichnen mit ihren Entwicklungen und Technologien sogar oft den Weg vor, der von der Autoindustrie eingeschla- Mit besten Grüßen, gen werden kann/soll. Einen großen Beitrag zu diesem Know-how Vorsprung liefern die Angebote des Automobil-Clus- ters in Form von Kooperationsplattformen zu den Zukunftsthemen „Connected Mobility“ und „Leichtbau“ aber auch die Schulungsangebote im AC-Qualifi zierungsprogramm, das im Mai neu erschienen ist und erstmals den Lehrgang „Digital Transfer Manager“ anbietet. Wolfgang Komatz, MSc Tempos machen alleine genügt nicht – Tempo halten bringt Ihr Unternehmen an die Spitze!
    [Show full text]
  • Pdf/Asian Highwaynetwork.Pdf (Дата Доступа: 15.01.2018)
    1 МИНИСТЕРСТВОНАУКИ И ВЫСШЕГО ОБРАЗОВАНИЯ РОССИЙСКОЙ ФЕДЕРАЦИИ Федеральное государственное бюджетное учреждение науки Институт Дальнего Востока Российской академии наук На правах рукописи ЧЭНЬ СЯО АВТОМОБИЛЬНЫЙ ТРАНСПОРТ КНР: ОТРАСЛЕВОЙ И РЕГИО- НАЛЬНЫЙ АСПЕКТ Специальность 08.00.14 – Мировая экономика Диссертация на соискание ученой степени кандидата экономических наук Научный руководитель кандидат экономических наук Сазонов Сергей Леонидович Москва – 2019 2 ОГЛАВЛЕНИЕ ВВЕДЕНИЕ…………………………………………………………………………..3 ГЛАВА 1. АВТОМОБИЛЬНЫЙ ТРАНСПОРТ КНР…………………………….17 1.1 Современное состояние автомобильной промышленности Китая………….17 1.2 Развитие национальной сети автомобильных магистралей…………………41 ГЛАВА 2. ИННОВАЦИОННОЕ РАЗВИТИЕ КИТАЙСКОГО АВТОПРОМА ..63 2.1 Технологический прорыв в производстве автомобилей, использующих альтернативные источники энергии………………………………………………63 2.2 Развитие технологий производства аккумуляторов и инфраструктуры запра- вочных станций для электромобилей………………………………………..……94 2.3 Пути решения проблем автомобильного транспорта в крупнейших мегапо- лисах Китая………………………………………………………………………..109 ГЛАВА 3. МЕСТО И РОЛЬ АВТОМОБИЛЬНОГО ТРАНСПОРТА КНР В РЕ- АЛИЗАЦИИ ПЛАНОВ СТРОИТЕЛЬСТВА «ЭКОНОМИЧЕСКОГО ПОЯСА ШЕЛКОВОГО ПУТИ» И «МОРСКОГО ШЕЛКОВОГО ПУТИ XXI В.»…………………………………………………………………………………..127 3.1 Инициатива «одного пояса и одного пути» как важнейший фактор стимули- рования экономического развития Китая и сопредельных стран……………………………………………………………………………..…127 3.2 Автомобильный транспорт в реализации инициативы «одного пояса и одно-
    [Show full text]
  • Car Wars 2020-2023 the Rise (And Fall) of the Crossover?
    The US Automotive Product Pipeline Car Wars 2020-2023 The Rise (and Fall) of the Crossover? Equity | 10 May 2019 Car Wars thesis and investment relevance Car Wars is an annual proprietary study that assesses the relative strength of each automaker’s product pipeline in the US. The purpose is to quantify industry product trends, and then relate our findings to investment decisions. Our thesis is fairly straightforward: we believe replacement rate drives showroom age, which drives market United States Autos/Car Manufacturers share, which drives profits and stock prices. OEMs with the highest replacement rate and youngest showroom age have generally gained share from model years 2004-19. John Murphy, CFA Research Analyst Ten key findings of our study MLPF&S +1 646 855 2025 1. Product activity remains reasonably robust across the industry, but the ramp into a [email protected] softening market will likely drive overcrowding and profit pressure. Aileen Smith Research Analyst 2. New vehicle introductions are 70% CUVs and Light Trucks, and just 24% Small and MLPF&S Mid/Large Cars. The material CUV overweight (45%) will likely pressure the +1 646 743 2007 [email protected] segment’s profitability to the low of passenger cars, and/or will leave dealers with a Yarden Amsalem dearth of entry level product to offer, further increasing an emphasis on used cars. Research Analyst MLPF&S 3. Product cadence overall continues to converge, making the market increasingly [email protected] competitive, which should drive incremental profit pressure across the value chain. Gwen Yucong Shi 4.
    [Show full text]