Search Coverage List, Models & Reports
Search Results1-10 out of 93
We wanted to flag a few highlights in today's (07/15/19) Wolfe Research Auto Daily....
Thoughts on the Ford/VW partnership in AV and EV
This mitigates development cost for Ford (Argo will likely be de-consolidated). And it may signal a strategic shift.
Ford/VW Partnership has implications for Uber and Lyft
Initial deployments of AMOD are fairly near-term (12-24 months). This realization has forced a decision point for many automakers. Also worth noting… since AMOD doesn’t promise much value for the vehicle assembler (fairly low volume, low brand value of the car itself), they need to either own the network or own the self-driving hardware / software themselves to derive value.
Another Daimler profit warning…. but this one is different
Daimler issued another profit warning this week, citing worse market growth and slower new product launches. Veoneer, Magna, Lear, and Delphi could have some exposure.
We wanted to flag a few highlights in today's (07/09/19) Wolfe Research Auto Daily....
Reuters battery article highlights disconnect between CO2 commentary and reality
VW Purchasing Chief clarifies that co-investing will be required to secure battery supply. And another data point that makes 7%-8% EV adoption targets for 2020 / 2021 seem almost impossible.
Geely guidance cut highlights concerns about China
Geely cut 2019 delivery guidance by 10% and issued a profit warning, underscoring concerns about the China market.
Manheim Q2 Call: Used Pricing Remains Strong in June, and Used Retail Sales Outlook More Positive than Expected
Generally strong used pricing, modest retail used vehicle sales growth in 2019 and 2020, and plateauing off-lease were our key takes from Manheim’s quarterly call.
We wanted to flag a few highlights in today's Wolfe Research Auto Daily....
Ram has ripped, and Ford fell. What happens to the pickup truck market now?
We looked at retail share, inventory, and incentive data for Q2. GM’s new pickup truck launch appears to be going well (with positive 2H implications). FCA’s sales have dramatically inflected, but some of the company’s strategies (incentives, fleet sales, subprime penetration) may also have adverse long-term consequences. Ford appears to have been the significant market share donor… but will they respond?
2Q China Sales were better than feared, and mix improved
We estimate that the June China SAAR ramped to 24.5 MM, up from 20.8 MM over the first 5 months of the year. Demand was clearly pulled forward, and there may be more riding on 2H19 than meets the eye.
GM’s and Ford’s China sales did a bit better than we expected
And Q2 may mark the trough for equity income from this region
We wanted to flag a few highlights in today's (07/03/19) Wolfe Research Auto Daily....
U.S. Sales annualized at 17.3 MM for June, a bit better than our 17.0 MM estimate.
June LV SAAR came in above our (and JD Power) estimates, with annualized large truck sales and share tracking well above YTD averages. See our takeaways within.
Tesla reported blow-out Q2 deliveries of 95,200
We believe that US Model 3 deliveries more than doubled, making Q1 look like an aberration and putting 7k per week volume back in play. Model S and Model X also better-than-expectations but likely due to discounting. Demand looks to be on solid footing but major upside still requires a return to the 2nd Half of 2018 margin profile, something we don’t see as likely in the near-term.
Does very soft June production in Germany suggest downside to 2Q IHS production expectations?
Very soft German auto production in June could point to potential downside versus the (already weak) IHS 2Q19 Europe production forecast of -6.9%
Another very weak month for NA Truck Orders points to a sharp reduction in 2H19 & 2020 builds
The latest data on NA Class 8 Truck orders remains weak (Class 8 down 70% y/y in June; Class 5-7 down 30%), further pointing to a sharp production decline in 2020. We assess implications for our Suppliers.
Expectations for light vehicle production, both for Q2 and the full year, have deteriorated over the course of Q2. As of mid-April, IHS was projecting a Q2 global production decline of 3.4%... Now it’s -6.1%. And based on anecdotes we’ve gathered from suppliers we believe that the actual result might even be lower (production schedules in NA and China have ratcheted lower over the past 3-4 weeks). We expect ALV, DLPH, AXL, LEA, MGA, and TEN to all come in below consensus for Q2. And we believe that all of these, plus VC and VNE, face risks for 2H.
- 1 of 10
- next →