Electronics Supply Chain Weekly Digest 11-8-24.
DATAPOINT OF THE WEEK: S&P reported Oct Eurozone mfg PMI of 46.0 vs 45.0 in Sep reflecting continued decline in activity albeit at the slowest pace since May, indicating a relative improvement M/M.
Output, new orders and employment and purchasing activity all declined M/M. Cautiously eurozone manufacturer growth expectations weakened to the lowest in a year.
The relative uptick in Eurozone PMI was also mirrored in Germany where Oct PMI jumped to 43.0 from 40.6 in September, marking a 3-month high.
Headlines:
Auto
- Audi plans thousands of job cuts outside production according to Reuters
- Automakers brace for new tariffs, EV changes under Trump presidency
- China EV price deal needs be as effective as tariffs, says EU official
- China Auto retail sales accelerate in Oct driven by both ICE and NEV
- China’s Nio plans to sell its first hybrid car overseas only
- China preparing policy changes that could cause correction of EV overcapacity Denso partners with Quadric to develop NPU
- Ford’s US sales rise about 15% in October
- Nissan to axe 9,000 jobs, cut production on weak China, US sales
- Stellantis, Infineon announce cooperation on architecture for next-generation cars
- Italy cuts automotive industry support to avoid funding cars made in China
- Stellantis to lay off 1,100 workers at Ohio Jeep plant
- Italy renews push to revise EU’s combustion engine car ban
- Lyft inks deal with Mobileye to bring robotaxis to ridehail platform
- VW workers at Osnabrueck plant hold fresh warning strike
- Xpeng bets on extended-range hybrid tech to boost sales
- Honda posts 15% fall in Q2 operating profit, missing forecasts on China weakness
- Solid state EV batteries in pilot production
- Chinese Geely shipments reach record in Oct
- Xioami SU7 monthly production expected to reach 24k in Nov-Dec
- Toyota lowers FY production target by 1% on China and production issues
- Tesla’s Oct China-made EV sales fall 5.3% y/y and 23% M/M
- Elon Musk says pointless to have $25K non-robotaxi Tesla, confirming Model 2 plans as scrapped
Datacenter
- Super Micro slumps as weak forecast, annual report uncertainty fuel investor angst
Industrial
- Airbus delivers 62 planes in Oct; need more than 200 deliveries in the final two months to reach full-year targets
- Israel signs $5.2 billion deal to acquire 25 F-15 fighter jets from Boeing
- Boeing strike ends as workers accept new contract
- US green power demand expected to grow regardless of election outcome, according to wind energy manufacturers Vestas and Orsted
- US factory orders fall a second straight month in September
Semiconductors
- Qualcomm sales to Chinese smartphone makers fuel strong results
- Wolfspeed projects revenue below estimates on weak auto demand
- Intel further delays start of Germany fab buildout
- Microchip provides softer 4Q sales outlook on continued inventory digestion
- SK Hynix reduces DDR4 production, accelerates shift to AI memory says DigiTimes
- TSMC, GlobalFoundries poised to get final Chips Act grants, according to Reuters
- Mature process fab capacity to say in oversupply; Vanguard says pressure persists
- 3Q global semi sales increased 23% Y/Y and 11% Q/Q says SIA
- GlobalFoundries forecasts upbeat Q4 results on strong demand from smartphone makers
- US fines GlobalFoundries for shipping chips to blacklisted firm
- Lattice forecast 4Q revenue below expectations; to lay of 14% of headcount
- NXP 4Q outlook disappoints on Auto and Industrial weakness in Europe and N.A.
- Intel to shrink its R&D team in Israel
- Nikon lowers its annual revenue outlook on slower than expected recovery in semi equipment demand
- US semi equipment makers move to cut China from its supply chain, according to WSJ
Other
- South Korean trade minister sees firms investing more in US if Washington imposes tariffs
- Farnell expands Industrial Ops tools and supplies
- Foxconn says Oct revenue +8.59% y/y
Source:
Edgewater Research
