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Edgewater Research: Electronics Weekly Digest

Dennis Reed
|  Created: November 10, 2023  |  Updated: July 1, 2024
|  Open as PDF

Edgewater Research

Data Point of the Week:

  • China's Light Vehicle Production: According to the China Association of Automobile Manufacturers (CAAM), China's light vehicle production and sales continued their strong performance in October. The production and sales remained steady month-over-month at approximately 2.5 million units.
  • Commercial Vehicles: Production of commercial vehicles increased by 7% month-over-month and 43% year-over-year, reaching 380,000 units - the highest since December 2021. However, sales saw a slight decrease of 2% month-over-month.
  • New Energy Vehicles (NEVs): NEV production rose by 12.5% to 989,000 units, setting a new record and showing significant growth both year-over-year and month-over-month.
  • Vehicle Exports: Exports of vehicles from China, including 124,000 NEVs, also showed strong growth, increasing by 10% month-over-month and 42% year-over-year to 488,000 units.

Automotive Industry Highlights:

  • BYD: Plans to build its first European factory in Hungary.
  • China Retail Auto Sales: Reported a 10% year-over-year increase in October, with NEV sales up by 3% month-over-month.
  • Neo, Li Auto, and Xpeng: Have provided bullish production forecasts for 2024, expecting a 50-100% increase.
  • Continental: Raised its 2023 auto production outlook but cautioned about slower growth in 2024.
  • Germany Car Sales: Remain subdued despite a minor month-over-month rebound in xEVs.
  • Lucid: Announced price cuts for its luxury sedan vehicles.
  • Polestar: Trimmed its 2023 EV production forecast, citing slowing EV demand.
  • Tesla: Plans to produce €25,000 cars in Germany for the European market and has raised prices for the Model Y in China.
  • UK and US Car Sales: Both showed increases in October, with new vehicle inventory in the US also rising.

Other Sectors:

  • Datacenter/Telco: Siemens announced a $150 million investment in a new US manufacturing plant.
  • IP&E: Murata is establishing a new R&D center in Japan, and Molex is expanding in Poland.
  • Semiconductors: Baidu places AI chip orders with Huawei, and Intel leads in secure defense-chip facilities.
  • Consumer/EMS/Distribution: Notable developments include price wars during Chinese shopping festivals and a surge in 3Q23 smartphone AP shipments.
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About Author

About Author

Dennis Reed is a Senior Research Analyst in Technology. Dennis started in the industry in 2005 at FTN Midwest Research on the technology & semiconductor team. In 2006, he was a founding member of Cleveland Research Company and continued to develop and extensive network of technology industry professionals in the semiconductor, distribution, memory and HDD industries throughout the world. Dennis worked at KeyBanc Capital markets in New York, on teams covering Consumer Staples and Paper & Packing companies. Dennis also brings wide level of experience working in various roles with Travelers Insurance, including Market Research and various product roles supporting business unit growth in targeted end markets. Dennis is a 2002 graduate of Ohio University with a major in Sports Management.

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