Electronics Supply Chain Weekly Digest 11-15-24.
DATAPOINT OF THE WEEK: China passenger vehicles production and sales accelerated in October totaling 2.706M and 2.755M respectively, growing 8%/11% Y/Y and 8%/9% M/M driven by trade-in incentives, continued OEM promotions, as well as the launch of new models, according to China Association of Automobile Manufacturers (CAAM).
The Commercial vehicle market was more sluggish in October with production and sales of 290k and 298k units respectively, down 23%/18% Y/Y and down slightly M/M. NEV production and sales maintained a robust momentum, growing 48%/50% Y/Y respectively with BEV up 40% and PHEV up 80% Y/Y.
Export of vehicles maintained a positive Y/Y momentum, though growth decelerated to +10% Y/Y in Oct, vs +20% in the prior months. NEV export growth also decelerate to +7% Y/Y vs double-digit growth in prior months.
Headlines:
Auto
- GM laying off nearly 1,000 workers, most in US
- Trump’s transition team aims to kill Biden EV tax credit
- Ford Motor hit with $165 million US penalty over delayed rearview camera recalls
- Kia sees near-term market challenges but sticks to 1.6 million annual EV sales target by 2030
- U.S. new-vehicle inventory tops 3 Million for the first time since May 2020 even as sales gain momentum
- BYD to enter South Korean passenger car market in 2025
- Xiaomi EV reaches production milestone of 100,000th cars in just 230 days
- Rivian announced a $5.8 billion investment from Volkswagen as part of their joint venture
- Global EV sales up 35% in October says Rho Motion
- Toyota aims to ramp up China production despite recent sales headwinds
- Continental cuts sales guidance for second time this year
- Rohm anticipates first profit loss in 12 years due to weak EV and China demand
- BYD closing in on Ford deliveries after besting Tesla on revenue
- Tesla Recalls Cybertrucks a Sixth Time in Year Since Launch
Datacenter
- AI datacenters will need 160% more electricity by 2027 says Gartner
Industrial
- China’s industrial output growth slowed in Oct, missing forecasts
- Eurozone industrial production falls more than expected in Sept
- Boeing starts issuing layoff notices as planemaker trims 10% of workforce
- Offshore wind manufacturer Nexans says it might turn US plant into export hub
- CATL would build US plant if Trump allows it
- CATL pushes beyond batteries into power grids
- Vanguard foundry wafer factory in Taoyuan experiences power outage
Semiconductors
- US finalizes $6.6 billion chips award for TSMC
- ASML outlook bullish through 2030 due to AI boom
- Infineon delays Kulim fab expansion due to industry cyclicality
- Skyworks provided a weaker than expected 4Q outlook
- Infineon guided to slightly sales decline in FY2025 noting only AI as strong
- AMD confirms it will lay off 4% of its global workforce
- SEMI: Silicon wafer shipments hit a five-quarter high in the 3Q
- Vietnam expands chip packaging footprint as investors reduce China links
- TSMC to temporarily halt sub 7nm shipments to China due to recent reports of such chips showing up in Huawei devices
Other
- ECB officials warn that Europe must prepare for new trade war with US
- Canada’s Government Intervenes to End Port Shutdowns
