Automotive Industry Review Dennis DesRosiers March 8, 2011
|
|
- Shanon Eaton
- 6 years ago
- Views:
Transcription
1 Automotive Industry Review Dennis DesRosiers March 8,
2 Forecasting the North American Market requires two separate Analysis First, is to calculate structural demand or as some may call it Long Term Trend Line demand following are some important considerations: Scrappage rates or replacement demand Age structure of the vehicles on the road Vehicle Usage Build quality/technology Expected Useful Life The state of repair of the vehicle Parc Driving age population Age structure of the population Immigration policy and trends Vehicle ownership levels or the penetration of vehicles into Society The cost of ownership Attitude towards vehicles Household structure family formation The types of vehicles available to consumers Transportation Infrastructure etc
3 North American Vehicle Sales (thousands of vehicle) 25,000 20,000 Long Term Trend Line Demand is positive but has fallen to below 1 percent per year even with significant overbuying the last decade. Trend Demand 15,000 10,000 5,000 0 Source: DesRosiers Automotive Consultants Inc.
4 Vehicle Scrappage as a percent of Units in Operation North America % U.S. Data Only 9.0% 8.0% 7.0% 6.0% 5.0% 4.0% 3.0% Better built vehicles (especially materials) has slowed scrappage to about 5 percent per year fortunately there are a lot of vehicles in operation 2.0% The age structure of vehicles on the road can be positive for scrappage The amount of driving is a key issue and with high gas prices this is negative for scrappage Source: DesRosiers Automotive Consultants Inc., Polk
5 Expected Useful Life of Vehicles UNITS IN OPERATION MILLIONS EXPECTED USEFUL LIFE KILOMETRES ,567, , ,748, ,580 % CHANGE 47.6% 11.9% ,516, ,081 % CHANGE 34.2% 25.7% ,940, ,370 % CHANGE 24.2% 23.1% ,317, ,573 % CHANGE 17.6% 11.1% Forecast 286,834, ,036 % CHANGE 11.9% 15.9% Expected useful life of a vehicle is up substantially and this puts downward pressure on new vehicle sales. Source: DesRosiers Automotive Consultants Inc.
6 300 Units in Operation, North America (millions of light vehicles) Trend line growth There are currently 280 million Vehicles in Operation so 5 % replacement demand translates into about 14 million units per year of trend line demand. 6 Source: DesRosiers Automotive Consultants Inc.
7 Driving Age Population, North America (millions of people, age 16+) Trend line growth Growth in Driving Age Population remains positive and adds another 1.5 to 2.0 million units of demand to long term growth Source: DesRosiers Automotive Consultants Inc.
8 Vehicles per Driving Age Population, North America 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% (Percentage of population, age 16+) This is the most difficult variable to call since the US is De-fleeting there is some growth in Canada and significant potential for Mexico but a potential that has never been realized. If long term trends continue it adds up to about 2 million units of long term trend demand but any reversal would reduce demand by millions. Source: DesRosiers Automotive Consultants Inc.
9 Expect a Long Term LEAN New Vehicle Market from a trend line perspective Most factors affecting long term trend line demand in North America are negative or only slightly positive vehicles are better built and lasting longer, driving age population is slowing, Mexican and Canadian vehicle ownership is growing but NOT in the US which is beginning to DE-FLEET. Trend line demand has fallen to less than 1 percent per year
10 25,000 North American Vehicle Sales (thousands of vehicle) Trend Demand 20,000 15,000 10,000 5,000 0 Source: DesRosiers Automotive Consultants Inc. 10
11 Forecasting the North American Market requires two separate Analysis The second step is to estimate what we call Cyclical demand or in other words the economic factors that leads to the market running above or below trend line demand. Key variables include: Employment/Unemployment If you have a job in N.A. you need a vehicle Real Income growth affordability issues Interest rates since 90 percent of vehicles are financed The wealth effect best example is house prices but equity markets are also an important element Consumer Confidence New product Introductions OEM incentive programs Ability for any OEM to actually get product allocated for the North American market
12 Cyclical Issues devastated the market in 2008/9 and are still prevalent today Almost all factors that determine whether the market runs above or below long term trend demand are negative. Unemployment is stubbornly high Real income growth is stagnant Interest rates can t go lower and are more likely to go higher House prices are stable at best but down radically from three years ago Consumer confidence has not recovered Some growth in new vehicle introductions but not enough to offset the negatives from the other variables.
13 Unemployment Rate (US and Canada) % 9.0% 8.0% 7.0% 6.0% 5.0% 4.0% 3.0% 2.0% 1.0% 0.0% High Unemployment is costing the market 2 to 3 million units per Year Source: BEA, Statistics Canada
14 Real Disposable Personal Income Growth USA 6.0% 5.0% 4.0% 3.0% 2.0% 1.0% 0.0% Income is closely tied to employment but real income growth is below long term potential and costing the market another 1 to 2 million units per year Source: Company Data, Credit Suisse
15 18.0% Fed Funds Rate % 14.0% 12.0% 10.0% 8.0% 6.0% 4.0% 2.0% 0.0% Low interest rates have been positive for demand but can t get any lower and are more likely to head higher within a year or two. When they head higher it will cost the market a million or more sales per year. Source: BEA
16 12.0% U.S. Home Price Index, YOY % Change % 8.0% 6.0% 4.0% 2.0% 0.0% -2.0% -4.0% -6.0% -8.0% Source: FHFA to 4 million Americans per year mortgaged their home to buy a vehicle and there is virtually no ability to do this today and in the foreseeable future
17 Canadian Index of Consumer Confidence and Light Vehicle Sales ( Percentage change February Tracking) 50.0% Vehicle Sales Confidence 50.0% 40.0% 40.0% 30.0% 30.0% Light Vehicle Sales 20.0% 10.0% 0.0% -10.0% -20.0% -30.0% 20.0% 10.0% 0.0% -10.0% -20.0% -30.0% Index of Consumer Attitudes -40.0% -40.0% -50.0% '01 '03 '05 '07 '09 YTD 11 Calendar Year Source: DesRosiers Automotive Consultants Inc., The Conference Board of Canada -50.0% 17
18 New Model Launches by Model Year e 2012e 2013e 2014e Model Year
19 North American Light Vehicle Sales: SAAR Monthly ,000,000 SAAR 6 Mo. Trailing Average 20,000,000 15,000,000 Units 10,000,000 5,000,000 0 J M M J S N J M M J S N J M M J S N J M M J S N J M M J S N J M M J S N J M M J S N J M M J S N J M M J S N J M M J S N J M M J S N Sales began to fall in 2006 and fell off a cliff in the fall of 2008 with only a modest recovery to date in 2010
20 North American Light Vehicle Sales: SAAR Monthly ,000,000 SAAR 6 Mo. Trailing Average 18,000,000 16,000,000 14,000,000 12,000,000 Units 10,000,000 8,000,000 6,000,000 4,000,000 2,000,000 0 J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D The hope for a steady recovery in NA sales has NOT materialized although they are up from the bottom of the cycle in Feb 2009
21 Cyclical Issues are pushing the market well below trend line demand and it will remain below for quite some time The market has recovered slightly from its low in 2009 but remains about 3 to 4 million units below trend line demand in 2010 They will improve over the next 3-4 years so that is positive but will still remain below trend line demand until Consumers will buy fewer vehicles this decade than last decade 21
22 25,000 North American Vehicle Sales (thousands of vehicle) Trend Demand 20,000 15,000 10,000 5,000 0 Source: DesRosiers Automotive Consultants Inc. 22
23 North American Light Vehicle Sales (Structural Demand Table) TOTAL VEHICLE TOTAL DRIVING AGE VEHICLES PER VEHICLE USAGE UNITS IN POPULATION DRIVING AGE SALES BILLIONS OF OPERATION MILLIONS POPULATION UNITS KILOMETRES ,500,717 15,556 88,567, % ,695,663 24, ,748, % Percent Change 37.9% 54.8% 47.6% 22.2% ,515,567 32, ,516, % Percent Change 6.9% 33.6% 34.2% 19.4% ,305,208 43, ,940, % Percent Change 9.7% 36.2% 24.2% 15.4% ,318,225 53, ,317, % Percent Change 12.6% 22.7% 17.6% 15.3% F 177,334,295 59, ,347, % Percent Change -5.8% 10.1% 11.7% 12.9% This will be a difficult decade for vehicle sales in North America but despite the leanness of the market consumers will still buy a significant volume of vehicles Source: DesRosiers Automotive Consultants Inc.
24 North American Light Vehicle Sales vs. Production TOTAL TOTAL PRODUCTION VEHICLE VEHICLE TO SALES SALES PRODUCTION RATIO UNITS UNITS ,500, ,331, % ,695, ,917, % % CHANGE 37.9% 27.2% ,515, ,272, % % CHANGE 6.9% -6.7% ,305, ,297, % % CHANGE 9.7% 22.5% ,318, ,922, % % CHANGE 12.6% 3.1% Forecast 177,334, ,674, % % CHANGE -5.8% -8.7% Vehicle production under performs vehicle sales due to increased import penetration led by European and Asian vehicles in the near term. China and others towards the end of the decade Source: DesRosiers Automotive Consultants Inc.
25 Questions? Dennis DesRosiers DesRosiers Automotive Consultants Inc. 80 Fulton Way, Suite 101 Richmond Hill, Ontario t: f: e: 25
AUTO INDUSTRY CHARTBOOK 1Q 2018
US AUTO INDUSTRY CHARTBOOK 1Q 218 Key Messages 1. Economic fundamentals and financial conditions remain supportive of demand 2. However, increasing off-lease returns will continue to exert downward pressures
More informationOutlook for Franchised New Car Dealers
1 Outlook for Franchised New Car Dealers Fourteenth Annual Automotive Outlook Symposium June 1, 2007 Paul Taylor, Ph.D., Chief Economist National Automobile Dealers Association, McLean, VA www.nada.org
More informationAging of the light vehicle fleet May 2011
Aging of the light vehicle fleet May 211 1 The Scope At an average age of 12.7 years in 21, New Zealand has one of the oldest light vehicle fleets in the developed world. This report looks at some of the
More informationMARKET UPDATE & ECONOMIC OUTLOOK
MARKET UPDATE & ECONOMIC OUTLOOK Economic Expansion Accelerates For the Moment Growth surged in Q2 from average 2.1% pace over prior 14 quarters; best quarter since 2014 10.0 Real Gross Domestic Product
More informationBob Costello American Trucking Associations
Bob Costello American Trucking Associations Economic & Trucking Industry Update August 7, 2018 Bob Costello Chief Economist & Senior Vice President of International Trade Policy & Cross-Border Ops American
More informationHONDA CANADA FINANCE INC. AUTO FINANCE FORUM February 15, ACCORD
HONDA CANADA FINANCE INC. AUTO FINANCE FORUM February 15, 2018 2018 ACCORD 1 Caution with Respect to Forward-Looking Statements: These slides contain forward-looking statements within the meaning of the
More informationAutomotive Outlook: Long Term Impacts on U.S. Auto Sales. Kim Hill Research Director. September 29, 2014
Automotive Outlook: Long Term Impacts on U.S. Auto Sales Kim Hill Research Director September 29, 2014 Agenda Current sales Factors that affect sales The current industry A look forward U.S. Light Vehicle
More informationAutomotive Market: Where Do We Go From Here?
Automotive Market: Where Do We Go From Here? June, 3 rd 211 Federal Reserve Bank of Chicago Eighteenth Annual Automotive Outlook Symposium Jeff Schuster Executive Director, Forecasting and Analysis jeff.schuster@jdpa.com
More informationFISCAL YEAR MARCH 2015 THIRD QUARTER FINANCIAL RESULTS. Updated Mazda CX-5 (Japanese specification model)
FISCAL YEAR MARCH 2015 THIRD QUARTER FINANCIAL RESULTS Updated Mazda CX-5 (Japanese specification model) Mazda Motor Corporation February 4, 2015 1 PRESENTATION OUTLINE Highlights Fiscal Year March 2015
More informationFISCAL YEAR MARCH 2015 FIRST QUARTER FINANCIAL RESULTS. Mazda Roadster 25 th Anniversary Model
FISCAL YEAR MARCH 2015 FIRST QUARTER FINANCIAL RESULTS Mazda Roadster 25 th Anniversary Model Mazda Motor Corporation July 31, 2014 1 PRESENTATION OUTLINE Highlights Fiscal Year March 2015 First Quarter
More informationSeptember 2014 Data Release
September 214 Data Release Fannie Mae s consumer attitudinal survey polls the adult U.S. general population to assess their attitudes about homeownership, renting a home, the economy, and household finances.
More informationFOR IMMEDIATE RELEASE
Article No. 7433 Available on www.roymorgan.com Roy Morgan Unemployment Profile Friday, 12 January 2018 2.6m Australians unemployed or under-employed in December The latest data for the Roy Morgan employment
More informationEarnings conference call. Q4 and Full year 2015
Earnings conference call Q4 and Full year 2015 Bo Annvik, CEO / Åke Bengtsson, CFO 11 February 2016 1 Agenda Business Highlights Market Update Sales Financials Outlook 2 2015 in numbers Operating margin
More informationAUTOMOTIVE OUTLOOK. Global economy a two-speed recovery
AUTOMOTIVE OUTLOOK Sue Yingzi Su Senior Economist 24 th Economic Outlook Symposium Federal Reserve Bank of Chicago December 3, 21 Global economy a two-speed recovery Index xed Real GDP (2=1) 15 13 11 Real
More informationFISCAL YEAR MARCH 2014 FINANCIAL RESULTS
FISCAL YEAR MARCH 214 FINANCIAL RESULTS Mazda CX-5 Mazda Atenza Mazda Motor Corporation April 25, 214 New Mazda Axela 1 PRESENTATION OUTLINE Highlights Fiscal Year March 214 Results Fiscal Year March 215
More informationKitchener-Cambridge-Waterloo and Guelph CMAs
H o u s i n g M a r k e t I n f o r m a t i o n Housing Now Kitchener-Cambridge-Waterloo and Guelph CMAs C a n a d a M o r t g a g e a n d H o u s i n g C o r p o r a t i o n Date Released: Kitchener-Cambridge-Guelph
More informationApril 2014 Data Release
April 214 Data Release Fannie Mae s consumer attitudinal survey polls the adult U.S. general population to assess their attitudes about homeownership, renting a home, the economy, and household finances.
More informationEarnings conference call
Earnings conference call Full year 2017 Åke Bengtsson, President & CEO Andreas Ekberg, Acting CFO February 14, 2018 1 Agenda Business Summary Market Update Sales Financials Way forward 2 Business Summary
More informationUsed Vehicle Supply: Future Outlook and the Impact on Used Vehicle Prices
Used Vehicle Supply: Future Outlook and the Impact on Used Vehicle Prices AT A GLANCE When to expect an increase in used supply Recent trends in new vehicle sales Changes in used supply by vehicle segment
More informationVehicle Remarketing Industry Dynamics
Vehicle Remarketing Industry Dynamics 6 Ownership changes during "the vehicle life cycle" are often expedited via the vehicle remarketing industry, which includes wholesale used vehicle and salvage auctions
More informationWorld Geographic Shares
World Geographic Shares North America South America Europe Africa Asia Australia/ Oceania 18% 13% 7% 22% 33% 6% World Population Shares North America South America Europe Africa Asia Australia/ Oceania
More informationIn this report, last week multiple commodities came down in price while parts of Wall Street hit new all-time highs.
This is the Scrap Metal & Commodities Recycling report, by BENLEE Roll off, Lugger and Open Top Trailers and Raleigh and Goldsboro Metal Recycling Monday August 8th, 2016. In this report, last week multiple
More informationMotion Control Market Update
Motion Control Market Update Alex Shikany MCA Director of Market Analysis February 20-22, 2013 Orlando World Marriott Center Orlando, Florida USA Table of Contents I. World Economic Drivers II. Global
More informationQUARTERLY REVIEW OF BUSINESS CONDITIONS: NEW MOTOR VEHICLE MANUFACTURING INDUSTRY / AUTOMOTIVE SECTOR: 3 rd QUARTER 2018
NATIONAL ASSOCIATION OF AUTOMOBILE MANUFACTURERS OF SOUTH AFRICA GROUND FLOOR, BUILDING F ALENTI OFFICE PARK 457 WITHERITE STREET, THE WILLOWS, X82 PO BOX 74166, LYNNWOOD RIDGE. 0040 TELEPHONE: (012) 807-0152
More informationDave Carroll Capital Markets Day Markets Update
Dave Carroll Capital Markets Day 2004 Markets Update Tomkins Operates in Diverse End Markets Breakdown 2003 Sales ( 3,150m, US$4,795m) Non-Residential Construction 11% Other 9% Automotive OE 27% Residential
More informationNorth American Machine Vision Market Update
North American Machine Vision Market Update Alex Shikany AIA Director of Market Analysis February 20-22, 2013 Orlando World Marriott Center Orlando, Florida USA Table of Contents I. U.S. Economy II. Manufacturing
More informationEconomic & Steel Market Development in Japan
1 Economic & Steel Market Development in Japan 68 th OECD Steel Committee Paris May 6-7, 2010 The Japan Iron & Steel Federation 2 Macro-economic overview Steel Supply and Demand v v v Steel Production
More informationStaying Ahead of the Curve
Staying Ahead of the Curve Understanding Key Trends in California s Automotive Marketplace 27 November 2012 John C. Humphrey Senior Vice President & General Manager Global Automotive Division J.D. Power
More informationODOT FUEL USAGE BENEFITS OF IDLE REDUCTION
ODOT FUEL USAGE BENEFITS OF IDLE REDUCTION Rudolf Diesel Rudolf Diesel constructed the first diesel engine in 1897 This led to an 1898 patent #608,845 for the internal combustion engine. Rudolf proved
More informationThe German Market After the Scrapping Scheme. Sascha Heiden Senior Market Analyst Automotive Analysis and Forecasting
The German Market After the Scrapping Scheme Sascha Heiden Senior Market Analyst Automotive Analysis and Forecasting The Background Following the financial crisis and its negative impact on global trade,
More informationInterim statement as of 30 September 2017 Conference call
Interim statement as of 30 September 2017 Conference call Dr. Volker Hues Member of the Board of Management, Finance Hamburg, 7 November 2017 Jungheinrich highlights Q1 Q3 2017 Forecast for the whole of
More information16 17F 18F 19F 16 17F 18F 19F 16 17F 18F 19F 16 17F 18F 19F 16 17F 18F 19F 16 17F 18F 19F 16 17F 18F 19F
Forecast detail Average annual % change unless otherwise indicated Real GDP Nominal Employment Unemployment rate Housing starts GDP % Thousands Retail sales CPI 16 17F 18F 19F 16 17F 18F 19F 16 17F 18F
More informationKongsberg Automotive ASA. Fourth quarter February 28, 2019
Kongsberg Automotive ASA Fourth quarter - February 28, 2019 Highlights Q4 Sales Revenues grew by 21 (7.3%) YoY to 288 including negative FX effects of 1. We booked new business with 77 in expected annual
More informationThe Russian building market
The Russian building market Despite remaining in recession, the Russian economy began to show the first signs of improvement in 2016 (GDP -0.6% following the sharp -3.7% downturn in 2015). According to
More informationParticleboard and MDF
Particleboard and MDF Will Supply Issues Persist? North American Conference October 2017 Steven Honeyman Economist, Wood Products Overview Markets have been steady thus far in 2017 for North American particleboard
More informationQUARTERLY REVIEW OF BUSINESS CONDITIONS: NEW MOTOR VEHICLE MANUFACTURING INDUSTRY / AUTOMOTIVE SECTOR: 2 nd QUARTER 2018
NATIONAL ASSOCIATION OF AUTOMOBILE MANUFACTURERS OF SOUTH AFRICA GROUND FLOOR, BUILDING F ALENTI OFFICE PARK 457 WITHERITE STREET, THE WILLOWS, X82 PO BOX 74166, LYNNWOOD RIDGE. 0040 TELEPHONE: (012) 807-0152
More informationFISCAL YEAR MARCH 2018 FIRST QUARTER FINANCIAL RESULTS
FISCAL YEAR MARCH 2018 FIRST QUARTER FINANCIAL RESULTS PRESENTATION OUTLINE Highlights Fiscal Year March 2018 First Quarter Results Fiscal Year March 2018 Full Year Forecast Structural Reform Stage 2 Progress
More informationQUARTERLY REVIEW OF BUSINESS CONDITIONS: MOTOR VEHICLE MANUFACTURING INDUSTRY / AUTOMOTIVE SECTOR: 4 TH QUARTER 2016
NATIONAL ASSOCIATION OF AUTOMOBILE MANUFACTURERS OF SOUTH AFRICA GROUND FLOOR, BUILDING F ALENTI OFFICE PARK 457 WITHERITE ROAD, THE WILLOWS, X82 PRETORIA PO BOX 40611, ARCADIA 0007 TELEPHONE: (012) 807-0152
More informationDeutsche Konjunktur 2012
Frankfurt/M., 25 Januar Deutsche Konjunktur Stefan Kooths Forecasting Center, Office Berlin GDP: Moderate expansion ahead 114 25=1 QoQ annualized growth rate Level (chain index) + 2.9 +.5 + 1.7 1 112 5
More informationNational Economic Estimating Conference Held July 12, 2018 FINAL Long-Run Tables
TABLE OF CONTENTS SECTION PAGE Executive Summary 2 Real Expenditures 4 Components of Income 6 Employment and Output 7 Financial Markets 9 Prices 10 Nominal Expenditures 12 The National Economic Estimating
More informationU.S. Classes 3-8 Used Trucks
Americas Commercial Transportation Research Co., LLC www.actresearch.net COMMERCIAL VEHICLES State of the Industry U.S. Classes 3-8 Used Trucks May 215 Data Published June 24, 215 Contributor to Blue Chip
More informationIn Rust We Trust: Commercial Vehicle Demand Drivers and Forecast Update
In Rust We Trust: Commercial Vehicle Demand Drivers and Forecast Update Kenny Vieth ACT RESEARCH Co., LLC Federal Reserve Bank of Chicago Automotive Outlook Symposium June 5, 2009 Overview Underlying Economics
More informationGROWTH IN TENTH DISTRICT MANUFACTURING ACTIVITY EDGED HIGHER Federal Reserve Bank of Kansas City Releases September Manufacturing Survey
FOR RELEASE Thursday, September 25, 2014 EMBARGOED FOR 10 A.M. CENTRAL TIME CONTACT: Pam Campbell 405-270-8617 Pam.Campbell@kc.frb.org GROWTH IN TENTH DISTRICT MANUFACTURING ACTIVITY EDGED HIGHER Federal
More informationFOR IMMEDIATE RELEASE
Article No. 7353 Available on www.roymorgan.com Roy Morgan Unemployment Profile Wednesday, 11 October 2017 2.498 million Australians (18.9%) now unemployed or under-employed In September 1.202 million
More informationGROWTH IN TENTH DISTRICT MANUFACTURING WAS SLIGHTLY POSITIVE Federal Reserve Bank of Kansas City Releases February Manufacturing Survey
FOR RELEASE Thursday, February 27, 2014 EMBARGOED FOR 10 A.M. CENTRAL TIME CONTACT: Pam Campbell 405-270-8617 Pam.Campbell@kc.frb.org GROWTH IN TENTH DISTRICT MANUFACTURING WAS SLIGHTLY POSITIVE Federal
More informationRecord CY 2016 EPS-diluted-adjusted of $6.12, an increase of $1.10 Y-O-Y. Q EPS-diluted-adjusted of $1.28, a decrease of $0.11 Y-O-Y.
1 2 3 Q4 2016 global deliveries up 0.1 million units year-over-year (Y-O-Y), a 3.3% increase. Volume gains primarily in North America and China, offset by reductions in International Operations (excluding
More informationFISCAL YEAR MARCH 2014 FIRST HALF FINANCIAL RESULTS. New Mazda Axela (Overseas name: New Mazda3)
FISCAL YEAR MARCH 2014 FIRST HALF FINANCIAL RESULTS New Mazda Axela (Overseas name: New Mazda3) Mazda Motor Corporation October 31, 2013 1 PRESENTATION OUTLINE Highlights Fiscal Year March 2014 First Half
More informationPress Release Wissmann: German Car Market to Grow to More Than 3.5 Million Units in 2009
Press Release Postfach 17 05 63 60079 Frankfurt/Main Westendstraße 61 60325 Frankfurt/Main Tel. +49 (0) 69 / 9 75 07-2 67 Fax +49 (0) 69 / 9 75 07-3 20 presse@vda.de www.vda.de High order backlog scrappage
More informationRVI RISK OUTLOOK RVI G R O U P. Forecast at a Glance. Our Experience is Your Assurance
RVI G R O U P Our Experience is Your Assurance RVI RISK OUTLOOK Quarterly Analysis of Key Issues and Trends in Consumer Leasing December 2017 Forecast at a Glance Key economic indicators signal that the
More informationAuto incentives and consumer spending on vehicles. Ted Chu, Senior Economist General Motors Corporation June 3, 2004
Auto incentives and consumer spending on vehicles Ted Chu, Senior Economist General Motors Corporation June 3, 2004 Agenda Incentive pressures and consumer affordability Dept of Commerce Bureau of Economic
More informationI remind you that our presentation is available on our website. We can start from the first 2 slides that show Piaggio Group First
CONFERENCE CALL 2009 1 st HALF RESULTS Good afternoon and welcome to everybody. I remind you that our presentation is available on our website. We can start from the first 2 slides that show Piaggio Group
More informationFISCAL YEAR MARCH 2015 FINANCIAL RESULTS. New Mazda CX-3 (Japanese specification model)
FISCAL YEAR MARCH 2015 FINANCIAL RESULTS New Mazda CX-3 (Japanese specification model) Mazda Motor Corporation April 24, 2015 1 PRESENTATION OUTLINE Highlights Fiscal Year March 2015 Results Fiscal Year
More informationGold Saskatchewan Provincial Economic Accounts. January 2018 Edition. Saskatchewan Bureau of Statistics Ministry of Finance
Gold Saskatchewan Provincial Economic Accounts January 2018 Edition Saskatchewan Bureau of Statistics Ministry of Finance Contents Introduction and Overview... 1 Introduction... 1 Revisions in the January
More informationSwapalease.com Auto Lease Trends Report 2nd Quarter A snapshot of the auto lease industry
Swapalease.com Auto Lease Trends Report 2nd Quarter 2017 A snapshot of the auto lease industry 1 About The Report Swapalease.com studies lease market trends and consumer insights each quarter. In order
More informationThe Growth of UK Motor Finance. Richard Jones Managing Director Black Horse, Lloyds Banking Group. 8 April 2016
The Growth of UK Motor Finance Richard Jones Managing Director Black Horse, Lloyds Banking Group 8 April 2016 ABOUT BLACK HORSE Introduction Overview Market Position Key Partners UK market leading non-captive
More informationQ SALES Strong organic growth, confirmed momentum. October 12, 2017
Q3 2017 SALES Strong organic growth, confirmed momentum October 12, 2017 Q3 2017 Sales Key facts Sales Since January 1, 2017, Faurecia reports on value-added sales, which are total sales less monolith
More informationQUARTERLY REVIEW OF BUSINESS CONDITIONS: NEW MOTOR VEHICLE MANUFACTURING INDUSTRY / AUTOMOTIVE SECTOR: 2 ND QUARTER 2017
NATIONAL ASSOCIATION OF AUTOMOBILE MANUFACTURERS OF SOUTH AFRICA GROUND FLOOR, BUILDING F ALENTI OFFICE PARK 457 WITHERITE ROAD, THE WILLOWS, X82 PRETORIA PO BOX 40611, ARCADIA 0007 TELEPHONE: (012) 807-0152
More informationAdvanced Paper 2: Competing in the global economy. Sample assessment materials for first teaching September 2015 Time: 2 hours
Write your name here Surname Other names Pearson Edexcel Level 3 GCE Centre Number Candidate Number Economics B Advanced Paper 2: Competing in the global economy Sample assessment materials for first teaching
More informationKongsberg Automotive ASA. Third quarter November 7, 2018
Kongsberg Automotive ASA Third quarter - November 7, Q3 Highlights Continued improvements in turbulent times Revenues increased YoY by MEUR 18.3 (~8%) to MEUR 259 including negative FX effects of MEUR
More informationFuture Funding The sustainability of current transport revenue tools model and report November 2014
Future Funding The sustainability of current transport revenue tools model and report November 214 Ensuring our transport system helps New Zealand thrive Future Funding: The sustainability of current transport
More informationFOR IMMEDIATE RELEASE
Article No. 5842 Available on www.roymorgan.com Roy Morgan Unemployment Profile Thursday, 2 October 2014 Unemployment climbs to 9.9% in September as full-time work lowest since October 2011; 2.2 million
More informationFISCAL YEAR MARCH 2015 FIRST HALF FINANCIAL RESULTS. New Mazda Demio
FISCAL YEAR MARCH 2015 FIRST HALF FINANCIAL RESULTS New Mazda Demio Mazda Motor Corporation October 31, 2014 1 PRESENTATION OUTLINE Highlights Fiscal Year March 2015 First Half Results Fiscal Year March
More informationALG July/August 2011 Edition Report
ALG July/August 2011 Edition Report ALG July/August 2011 Edition Report Introduction: For the July/August 2011 edition, ALG has updated both gas price and used supply outlook to reflect the latest available
More informationCompany. Jonathan Smoke Remarketing Big Picture 2017 and Beyond
Company Jonathan Smoke Remarketing Big Picture 2017 and Beyond Economic Expansion Continues 10.00 REAL GROSS DOMESTIC PRODUCT (SAAR) % GROWTH BY QUARTER 8.00 6.00 4.00 3.1 2.00 0.00-2.00-4.00-6.00-8.00-10.00
More informationEnergy Outlook. U.S. Energy Information Administration. For EnerCom Dallas February 22, 2018 Dallas, TX
Energy Outlook For EnerCom Dallas Dallas, TX Jeff Barron Industry Economist, U.S. Energy Information Administration U.S. Energy Information Administration Independent Statistics & Analysis www.eia.gov
More informationRESULTS READER SURVEY TRENDS IN EMPLOYMENT MACHINE TOOL INVESTMENT OUTSOURCING AND OTHER GEAR INDUSTRY BUSINESS PRACTICES
READER SURVEY RESULTS TRENDS IN EMPLOYMENT MACHINE TOOL INVESTMENT OUTSOURCING AND OTHER GEAR INDUSTRY BUSINESS PRACTICES 8 of Gear Industry Respondents are Optimistic About their Ability to Compete over
More informationCoal Mine Safety Shortchanged by Years of Budget Cuts
Coal Mine Safety Shortchanged by Years of Budget Cuts Congress created the Mine Safety and Health Administration (MSHA) in 1977, placing a new federal focus on miner safety and health. However, the agency's
More informationEuropean Scrapping Programs: Good or Bad? Sascha Heiden Senior Market Analyst Automotive Analysis and Forecasting
European Scrapping Programs: Good or Bad? Sascha Heiden Senior Market Analyst Automotive Analysis and Forecasting The Spread of Government Car Purchase Incentive Schemes Many European Governments have
More informationInflation: the Value of the Pound
Inflation: the Value of the Pound 1750-1996 Research Paper 97/76 6 June 1997 The Library is often asked about how the purchasing power of the pound has changed over various periods. This Research Paper
More informationThe Future of Electric Cars - The Automotive Industry Perspective
The Future of Electric Cars - The Automotive Industry Perspective Informal Competitiveness Council San Sebastian, 9 February 2010 Dieter Zetsche President ACEA, CEO Daimler page 1 The Engine of Europe
More informationDISCOVER U.S. SPENDING MONITOR SM
DISCOVER U.S. SPENDING MONITOR SM Mar Feb DSM 86.5 88.7 86.1 86.0 86.8 85.4 85.1 86.4 Spending 95.6 95.8 97.5 97.6 97.9 95.3 93.9 92.1 Econ 75.2 79.9 71.9 71.4 73.0 73.0 74.2 79.4 DSBW 74.6 86.9 84.6 71.8
More informationThe information presented in this publication was collected and analyzed by DesRosiers Automotive Consultants Inc. for AIA Canada.
1272 Wellington Street West, Ottawa ON K1Y 3A7 Telephone: 800.808.2920 Fax: 613.728.6021 Email: info@aiacanada.com www.aiacanada.com The information presented in this publication was collected and analyzed
More informationThe North American Automobile Industry
The North American Automobile Industry Kim Hill Director, Sustainability and Economic Development Strategies Center for Automo;ve Research Ann Arbor, Michigan FTA Revenue Es;ma;ng Conference Hilton Springfield,
More informationManitoba Economic Highlights
Economic Overview Real Gross Domestic Product The Manitoba Bureau of Statistics estimates that Manitoba s real GDP grew 1.9% in 2016, above the national average of 1.4%. Manitoba s real GDP is expected
More informationEuropean Scrapping Programs: Good or Bad? Carlos Da Silva Senior Market Analyst Automotive Analysis and Forecasting
European Scrapping Programs: Good or Bad? Carlos Da Silva Senior Market Analyst Automotive Analysis and Forecasting The Spread of Government Car Purchase Incentive Schemes Many European Governments have
More information210 Index. diesel fuel Brazil, 73 Mexico, 99, 108 Thailand, 171, , 183n5 Turkey, 54 7 see also fuel prices
Index AMIA (Mexican Association of the Automotive Industry), 90, 108 automobile demand ageing of population, 9 emerging economies, 206 7 financing, 8 post-recession, 1 2 role of income distribution and
More informationSwapalease.com Auto Lease Trends Report 4th Quarter A snapshot of the auto lease industry
Swapalease.com Auto Lease Trends Report 4th Quarter 2017 A snapshot of the auto lease industry 1 About The Report Swapalease.com studies lease market trends and consumer insights each quarter. In order
More informationBLUE BOOKJUNE. Market Report. Automotive Insights from Kelley Blue Book. Joanna Pinkham Senior Public Relations Manager
BLUE BOOKJUNE 213 Market Report Automotive Insights from Kelley Blue Book NEW CAR EDITION Kelley Blue Book Public Relations Contacts: Chintan Talati Senior Director, Public Relations 949.267.4855 ctalati@kbb.com
More informationSwapalease.com Auto Lease Trends Report 1st Quarter A snapshot of the auto lease industry
Swapalease.com Auto Lease Trends Report 1st Quarter 2017 A snapshot of the auto lease industry 1 About The Report Swapalease.com studies lease market trends and consumer insights each quarter. In order
More informationGoals, Objectives, Performance Measurements. Mayor s Transition Team Public Input Session: Finance & Budget/Pensacola Energy 1/22/2019
Goals, Objectives, Mayor s Transition Team Public Input Session: Finance & Budget/Pensacola Energy 1/22/2019 Pensacola Energy Goals Pensacola Energy generates income for the City of Pensacola through the
More informationCREDIT UNION ESTIMATES
MONTHLY CREDIT UNION ESTIMATES Prepared May 1, 2018 by Credit Union National Association Economics and Statistics Department cuna.org/mcue Loans Credit union loans outstanding grew 1.1% in, compared to
More informationSteel Industry Outlook Federal Reserve Bank of Chicago December Robert J. DiCianni Mittal Steel USA. Mittal Steel Company
Steel Industry Outlook Federal Reserve Bank of Chicago December 2005 Robert J. DiCianni Mittal Steel USA 1 Outline Overall Outlook End Market Outlook 2006 Forecast Steel Demand Prices Inputs and other
More informationFigure 1 Unleaded Gasoline Prices
Policy Issues Just How Costly Is Gas? Summer 24 Introduction. Across the nation, the price at the pump has reached record highs. From unleaded to premium grade, prices have broken the two-dollar-per-gallon
More informationFigure 1 Unleaded Gasoline Prices
Policy Issues Just How Costly Is Gas? Summer 26 Introduction. Across the nation, the price at the pump has reached record highs. From unleaded to premium grade, prices have broken three dollars per gallon
More informationDOWNSTREAM PETROLEUM 2017 DOWNSTREAM PETROLEUM
DOWNSTREAM PETROLEUM International and Asian Refining The global refining industry is fundamentally changing as emerging and maturing trends re-shape the global supply and demand patterns for crude oil
More informationEarnings conference call Q4 & FY 2016
Earnings conference call Q4 & FY 2016 Bo Annvik, CEO / Åke Bengtsson, CFO February 10, 2016 1 Agenda Business Highlights Market Update Sales Financials Way forward 2 Business Summary FY 2016 A year with
More informationBob Costello Chief Economist & Vice President American Trucking Associations. Intermodal Freight Transportation Institute October 30, 2012
Bob Costello Chief Economist & Vice President American Trucking Associations Intermodal Freight Transportation Institute October 30, 2012 U.S. Economic Summary Fiscal Cliff Eurozone Problems U.S. Elections
More informationCorn Outlook. David Miller Director of Research & Commodity Services Iowa Farm Bureau Federation December 2013
Corn Outlook David Miller Director of Research & Commodity Services Iowa Farm Bureau Federation December 2013 Source: USDA-WAOB U.S. Corn Supply & Usage U.S. Corn Supply & Usage Comments With the largest
More informationAftermarket Trends: What will Drive Future Aftermarket Repair Opportunities in North America?
Aftermarket Trends: What will Drive Future Aftermarket Repair Opportunities in North America? Mark Seng Global Aftermarket Practice Leader July 29, 2014 - Vehicles - Powertrains - Technology & How the
More informationNATIONAL ASSOCIATION OF AUTOMOBILE MANUFACTURERS OF SOUTH AFRICA
NATIONAL ASSOCIATION OF AUTOMOBILE MANUFACTURERS OF SOUTH AFRICA GROUND FLOOR, BUILDING F ALENTI OFFICE PARK 457 WITHERITE ROAD, THE WILLOWS, X82 PRETORIA PO BOX 40611, ARCADIA 0007 TELEPHONE: (012) 807-0152
More informationGeneral Overview of the Company April 2010
General Overview of the Company April 2010 Forward-Looking Statements Certain of the information presented looks forward in time and deals with other than historical or current facts for AutoCanada Inc.
More informationNEWS RELEASE. Government charges up incentives for zero-emission vehicles
For Immediate Release 2017MEM0004-000243 Feb. 3, 2017 NEWS RELEASE Government charges up incentives for zero-emission vehicles VANCOUVER Minister of Energy and Mines Bill Bennett today announced an investment
More informationFOR IMMEDIATE RELEASE
Article No. 7845 Available on www.roymorgan.com Roy Morgan Unemployment Profile Friday, 18 January 2019 Unemployment in December is 9.7% and under-employment is 8.8% FOR IMMEDIATE RELEASE Australian unemployment
More informationLuxury Through the Eyes of the Affluent January 2015
Luxury Through the Eyes of the Affluent January 2015 Complimentary Copy: Not to be used for any marketing or sales purposes without the express written permission of the copyright holder. Introduction
More informationFISCAL YEAR ENDED MARCH 2011 FINANCIAL RESULTS
FISCAL YEAR ENDED MARCH 211 FINANCIAL RESULTS Mazda Motor Corporation April 28, 211 Mazda MINAGI 1 PRESENTATION OUTLINE Highlights Fiscal Year Ended March 211 Results In Summary Question & Answer Session
More informationANNUAL FINANCIAL PROFILE OF AMERICA S FRANCHISED NEW-CAR DEALERSHIPS
ANNUAL FINANCIAL PROFILE OF AMERICA S FRANCHISED NEW-CAR DEALERSHIPS 2014 www./nadadata Overview NADA Data 2014 the annual financial profile of America s franchised new-car dealerships shows a robust and
More informationHAS MOTORIZATION IN THE U.S. PEAKED? PART 2: USE OF LIGHT-DUTY VEHICLES
UMTRI-2013-20 JULY 2013 HAS MOTORIZATION IN THE U.S. PEAKED? PART 2: USE OF LIGHT-DUTY VEHICLES MICHAEL SIVAK HAS MOTORIZATION IN THE U.S. PEAKED? PART 2: USE OF LIGHT-DUTY VEHICLES Michael Sivak The University
More informationSwapalease.com Auto Lease Trends Report 3rd Quarter A snapshot of the auto lease industry
Swapalease.com Auto Lease Trends Report 3rd Quarter 2017 A snapshot of the auto lease industry 1 About The Report Swapalease.com studies lease market trends and consumer insights each quarter. In order
More informationNational Health Expenditure Projections
National Health Expenditure Projections 2009-2019 Forecast Summary In 2009, NHE is projected to have reached $2.5 trillion and grown 5.7 percent, up from 4.4 percent in 2008, while the overall economy,
More informationDeutschland: Asiens Ingenieur, Europas Motor, Garant des Euro?
Frankfurt/M., 2. Februar Deutschland: Asiens Ingenieur, Europas Motor, Garant des Euro? Dr. Stefan Kooths ing Center GDP: Slower pace ahead 114 2=1 QoQ annualized growth rate Level (chain index) 15 1 112
More information