Focus on the new trends of traditional car companies
Volkswagen Group Q2 global salesyear-on-yearsmallUp 1.2%
Volkswagen Group’s total global deliveries in the second quarter of this year increased slightly by 1.2% year-on-year to 2,271,700 units; Among them, Central and Eastern Europe, South America, the Middle East and Africa performed particularly well; In the Chinese market, although its pure electric vehicle sales declined, the sales growth of its traditional fuel vehicles led to a year-on-year increase of 2.8% in the Volkswagen Group’s overall sales.
VolkswagenCarGroup luxury brandQ2 GlobalSales down 7.7% year-on-year
Affected by the U.S. tariff policy, the Volkswagen Group suffered a heavy setback in sales of high-margin models in the second quarter of this year. According to the data, global sales of Volkswagen Group’s luxury brands Porsche, Audi, Lamborghini and Bentley fell 7.7% year-on-year to 480,200 units in the second quarter.
VolkswagenCarcliquePure electric vehiclesQ2globeSales volume year-on-yearRose37.6%
In the second quarter of this year, the global sales of Volkswagen Group’s pure electric vehicles reached 248,700 units, a year-on-year increase37.6%； Among them, the European market performed the strongest, with sales reaching 189,700 units, a year-on-year increase of 73%; In China, sales fell by 33% year-on-year, to 33,400 units, and in North America, sales also fell slightly by 5.2% year-on-year to 11,400 units.
Porsche expectsApril and 5It will lose 300 million euros per month due to tariffs
In an investor conference call ahead of the release of the second quarter of this year’s earnings report, German luxury sports car maker Porsche pointed out that the company expects its financial results to be hit by 300 million euros in April and May due to US import tariffs.
Hyundai Motor Company’s proportion of female executives in 2024 reached a record high, and the total compensation exceeded that of male executives
It is reported that in 2024, the proportion of women in Hyundai Motor Company’s executive team will reach a record high, accounting for 7.9% of all its executives; After including performance bonuses, the average annual salary of female executives reached 495.78 million won, which was 32.93 million won higher than the 462.84 million won of male executives.
Renault Group is rumored to appoint an interim CEO next week
It is reported that Renault will appoint an interim CEO next week. Meanwhile, the company is still looking for a full CEO. However, people familiar with the matter said that if the company wants to appoint a full CEO by July 15, time is very tight. Renault previously announced that its CEO Luca de Meo will leave his post on July 15.
Daimler Trucks plans to cut about 5,000 units in Germanyjobs
On July 8, Daimler Trucks announced that it would cut about 5,000 jobs in Germany by 2030. The company noted that through this layoff plan, the company expects to save more than 1 billion euros in annual recurring costs by 2030, while also cutting production expenses. Daimler Trucks said it will reduce positions in socially responsible ways such as attrition and expanded early retirement plans, as well as provide targeted severance packages. Attrition refers to reducing the number of employees by not filling positions of voluntarily leaving employees.
Daimler Trucks expects free cash flow to becompare50% increase in 2024
Daimler Trucks expects organic revenue from its industrial business to grow by 3% to 5% per year by 2030; and the adjusted return on sales of its industrial business will exceed 12%; Free cash flow will increase by 50% compared to 2024.
Focus on industry and economics
Trump announcedUnited StatesSince August1 dayrisewillRightimportCopper and Brazilian goods will be subject to a 50% tariff
U.S. President Donald Trump further upgraded his global tariff policy on July 9, announcing that starting August 1, the United States will impose a 50% tariff on imported copper and significantly increase the reciprocal tariff on Brazil from 10% to 50%. For Brazil, which maintains a balanced trade relationship with the United States, this increase is alarming.
IndiaProposed to$290 millionIncentives promotemainlandRare earth magnetsproduce
It is reported that India has proposed a plan to promote the production of local rare earth magnets, which has attracted initial interest from a number of large companies. The Indian government plans to provide incentives of up to INR 25 billion (about US$290 million) to private companies producing rare earth magnets, aiming to reduce dependence on Chinese rare earth magnets, according to people familiar with the matter.
U.S. International Trade Commission：USMCA to vendorsBeneficial and impactful to automakers
A recent study released by the U.S. International Trade Commission pointed out that the automobile origin rules in the United States-Mexico-Canada Agreement (USMCA) have had a positive impact on U.S. auto parts suppliers, but they have also had a certain impact on automakers. According to analysis, from the entry into force of the USMCA in July 2020 to 2024, U.S. auto parts suppliers have received an additional $3.42 billion in revenue and added more than 5,400 jobs thanks to the rules of origin in the agreement. However, during the same period, automakers saw a $251 million decrease in revenue from U.S. vehicle production.
Research: The life cycle emission advantages of electric vehicles have expanded significantly
The latest report from the International Commission on Clean Transportation shows that with the popularity of sustainable energy in Europe, pureElectric vehicleThe environmental performance over the life cycle has significantly surpassed that of conventional internal combustion engine vehicles. The report said that the new generation of pure electric vehicles will reduce carbon dioxide emissions by 73% compared to traditional fuel vehicles, an increase of 24 percentage points from the 2021 forecast.
analystQ3 is expected to occur in the United StatesElectric vehicle pre-orders
As the U.S. government’s $7,500 electric vehicle tax credit expires this fall, major automakers are currently actively pushing consumers to buy electric vehicles before the policy ends. Barclays analysts said in a report: “We expect a significant wave of electric vehicle pre-orders in the U.S. auto market in the third quarter of this year, followed by a sharp decline in sales in the following months.” Sam Fiorani, vice president of research firm AutoForecast Solutions, said: “If there are still people who have not bought electric vehicles, they may be encouraged to do so in the third quarter of this year.” Consumers generally believe that the deadline for action has come. ”
Tesla investors urge the board to set a date for the AGM
On July 9, a group of 27 major Tesla investors appealed to the electric vehicle maker’s board of directors to set a date for this year’s AGM as soon as possible. In an open letter, the group said the move was based on legal obligations and growing corporate governance issues. The group pointed out that Tesla is about to miss the statutory deadline and has not yet announced its meeting schedule for this year.
Focus on supply chain
WebastMichigan plant operations will be suspendedcombinecut outsubtract134Employees
becauseAutomotive productionDecline, automotive sunroof system supplier Webast’s Americas plans to lay off 134 employees in the suburbs of Detroit, USA, the latest in a series of large-scale layoffs due to production cuts. The company said its plant in New Hudson, Michigan, USA, will be “temporarily suspended.” Webast spokesperson Debra Ortisi revealed that production will be concentrated at the plant in Plymouth, Michigan. According to the Michigan government notice, the layoffs are expected to be implemented on August 19.
Standard Profil reached an agreement with creditorsacquisitionagreement
German auto parts supplier Standard Profil has entered into a restructuring agreement with creditors, under which bondholders will take over control of Standard Profil from Turkish private equity firm Actera Group. According to a document obtained by Bloomberg, bondholders will have the opportunity to provide up to 145 million euros in new super-senior financing. Participants will receive 90% of Standard Profil’s common shares, while lenders backing the agreement will receive additional shares. The company expects to complete the restructuring by the end of September this year.
Focus and intelligence
China Car Rental cooperated with Baidu Apollo to launch autonomous driving rentalscartserve
Chinese car rental company China Car Rental announced that it has jointly launched an autonomous car rental service with Baidu’s intelligent driving business Apollo. China Car Rental said in a statement that the first batch of customized Apollo autonomous vehicles can accommodate up to three passengers. China Car Rental is now open for reservations, and users can choose the rental duration ranging from 4 hours to 7 days, and the service is for adults over 18 years old.
Tesla’s self-driving taxi crashed for the first time
A few days ago, according to DirtyTesla, a Tesla self-driving taxi experienced some problems when navigating into the parking lot of a pizza place. After an unsuccessful attempt to enter the parking lot, the car ended its trip. But after the passenger got out of the car, the car suddenly began to drive straight toward a parked Toyota Camry (just inches away) until its tires gently hit the Toyota Camry’s door. The car then came to a complete stop and turned on its hazard lights.