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    Does the acquisition of Arm give NVIDIA the keys to autonomous driving?
    US-based NVIDIA’s announced agreement to acquire UK-based Arm from SoftBank is a significant development for automotive electronics. Arm brings CPU intellectual property (IP) expertise that has enabled low-powered, embedded solutions, and NVIDIA’s graphics processing unit (GPU) IP expertise has ...
    Mainland China’s mobility service market to drive demand for autonomous driving technology
    Since the first autonomous car competition organized by the US Department of Advanced Research Project Agency (DARPA) in 2004, the United States has been at the center stage of autonomous driving. Alphabet’s Google Self-Driving Car Project, which later became an independent company called Waymo, w...
    14-Aug-2020 Insights Technology Trends Pinned
    AutoTechInsight Webinar: Strategy & Opportunity in Autonomy
    Watch an on-demand replay now AutoTechInsight Webinar: Strategy & Opportunity in Autonomy Advanced driver assistance systems (ADAS) have taken hold throughout the automotive industry, establishing a paradigm of increased availability and standardization of basic safety features for ma...
    23-Sep-2020 News Webinars
    SKF invests USD61.5 million to reinforce operations in North America
    Sweden-based automotive components supplier, SKF, has announced that it will be investing SEK550 million (approximately USD61.5 million) to strengthen its North American operations. According to a press release issued by SKF on 22 September, the company stated that this investment will also be ...
    23-Sep-2020 News Investments
    Hankook Tire partners with SK Planet to develop Road Risk Detection Solution
    South Korean tire manufacturer, Hankook Tire, has announced its collaboration with data and testing firm, SK Planet. According to a press release issued by Hankook on 22 September, the companies will create a solution called the Road Risk Detection Solution that is capable of preemptively detecting ...
    23-Sep-2020 News New Products
    French government to discuss alternatives scenarios for planned closure of Bridgestone plant
    France is planning to discuss alternative scenarios due to the planned closure of a Bridgestone plant in the country, Reuters reported on 21 September quoting junior Economy Minister Agnes Pannier-Runacher. The plant is situated in the Northern French city of Bethune. “We have agreed (with Brid...
    Schaeffler and Bosch collaborate on intelligent rear wheel steering development
    Automotive components suppliers Schaeffler and Bosch have announced their collaboration to develop the intelligent rear wheel steering (iRWS) product line. According to a press release issued by Schaeffler on 21 September, Schaeffler will provide mechatronic iRWS systems, and Bosch Automotive Steeri...
    22-Sep-2020 News New Products
    AutoTechInsight Weekly – 21 September 2020
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    Brembo to introduce more digital solutions as part of new business strategy
    Italian supplier of braking components and systems, Brembo, has announced that it aims to use smart and sustainable digital products and services in order to become a solution provider. According to a press statement issued by Brembo on 16 September, the company intends to use its technological expe...
    21-Sep-2020 News New Products
    Electrohydraulic brake actuation to see high adoption in the short-to-medium term
    The brakes of an automobile are unquestionably one of the first lines of safety in motoring, and for this reason, vehicle manufacturers have invested and will certainly continue to dedicate significant investments in order to upgrade vehicle braking systems. Automotive brakes functioned through mech...
    Denso develops new electric power steering motor control unit
    Denso has developed a new electric power steering motor control unit (EPS-MCU) that delivers improve handling and safety to vehicles, the company said in a press release on 3 September. The new EPS-MCU, called DDA2 (Denso Dual Assist 2nd Generation), features two drive circuits and motor windings wh...
    18-Sep-2020 News New Products
    Akebono Brake to dissolve subsidiary Akebono Advanced Engineering UK
    Akebono Brake Industry Co., Ltd. has announced its decision to dissolve Akebono Advanced Engineering (UK) Ltd., its consolidated subsidiary, according to a company press release on 17 September. The decision is part of the business restructuring measures including reform of business and production l...
    Toyo Tire to invest USD429 million in Serbian factory by end-2023
    Japanese tiremaker Toyo Tire Corporation announced plans to invest EUR364 million (USD429 million) in a new tire factory in Serbia by the end of 2023, according to a report by SeeNews on 17 September citing the Indjija city government. The company has already acquired a land plot of 63 hectares in t...
    18-Sep-2020 News Investments
    Bridgestone to cease operations at Bethune plant in France due to market volatility
    Bridgestone will cease production at its passenger tire plant in Bethune, France "in response to the challenging long-term outlook for the European passenger tire market,” the company announced in a press release on 16 September. The closing is not expected to take place before the second quarter ...
    Brembo introduces Greentive brake disc with low brake dust emissions
    Brembo has unveiled a new brake disc Greentive®, the brake supplier said in a press release on 16 September. The company said that the new disc with high technological characteristics is designed specially to meet the demands of premium and luxury cars. Significance: The new brake disc features ...
    17-Sep-2020 News New Products
    Suppliers to the new Chevrolet Corvette
    The eighth-generation Chevrolet Corvette is assembled at Chevrolet's facility in Bowling Green, United States. According to IHS Markit production forecasts, output of the new generation Chevrolet Corvette from the plant is expected to peak in 2021 at over 34,000 units. If you would like ...
    AutoTechInsight Weekly – 14 September 2020
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    Brembo supplies braking solutions for Maserati MC20
    Brembo is supplying braking solutions for the new Maserati MC20, the braking systems supplier said in a press release. The company is supplying its radial mounted monobloc 6-piston brake calipers for the front. The calipers converge on 390 x 36 mm Brembo CCM (carbon ceramic material) brake discs, of...
    thyssenkrupp, Hyundai develop CFRP aluminum hybrid wheel
    In a press release dated 10 September, thyssenkrupp Carbon Components, a subsidiary of thyssenkrupp, announced that it has developed a carbon fiber–reinforced polymer (CFRP) aluminum hybrid wheel in cooperation with Hyundai Motor Europe Technical Centre (HMETC). The project was executed using thys...
    11-Sep-2020 News New Products
    Bridgestone provides ENLITEN tire technology for Volkswagen Golf 8
    Bridgestone is supplying Turanza Eco featuring its innovative, lightweight ‘ENLITEN Technology’ as OE tires for Volkswagen’s new eighth generation Golf 8, according to a company press release on 8 September. The custom-designed Turanza Eco tires with ENLITEN Technology have been design...
    AutoTechInsight Weekly – 7 September 2020
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    Kia, Hyundai recall nearly 600,000 vehicles in North America over brake fluid leakage issue
    South Korean automakers Hyundai and Kia are recalling over 600,000 vehicles in the United States and Canada over brake fluid leakage issue, Associated Press reported on 3 September. The recalls cover more than 440,400 units of model year (MY) 2013–15 Kia Optima vehicles and MY 2014–15 Kia Sorent...
    04-Sep-2020 News Recalls
    New Mercedes-Benz S-Class to feature innovative chassis systems
    German luxury car maker Mercedes-Benz has introduced the newest generation of its flagship luxury saloon, the S-Class. According to a press release issued by Mercedes-Benz on 2 September, the company has stated that the vehicle will be equipped with innovative chassis systems that include fully acti...
    03-Sep-2020 News New Products
    New Volkswagen ID.3 features DRiV’s semi-active suspension technology
    Powertrain components supplier DRiV has announced that its continuously variable semi-active suspension with external valve (CVSAe) can be equipped for the Volkswagen ID.3 electric vehicle. According to a press release issued by the parent company of DRiV, Tenneco, on 1 September, the company has st...
    VDA survery reveals most suppliers expect to return to pre-crisis levels starting in 2022
    Most auto parts suppliers in Germany expect to return to pre-crisis level starting in 2022, according to the findings of a survey of automotive suppliers by the German Association of the Automotive Industry, published on 25 August. “The political measures to support businesses are indeed taking ef...
    02-Sep-2020 News COVID-19
    Continental to expand restructuring program, 30,000 jobs to be affected globally
    German automotive components and systems supplier, Continental, has announced that it is expanding the Transformation 2019–29 structural program it initiated in 2019 with additional measures to cut costs and increase efficiency. According to a press release issued by Continental on 1 September, th...
    Hyundai Mobis to expand EV parts plant in South Korea
    Hyundai Mobis is building a new plant for electric vehicle (EV) components in Pyeongtaek, Gyeonggi-do, Korea, according to company press release on 26 August. Hyundai Mobis is investing KRW35.5 billion (USD30 million) in new plant, which is located in Poseung District (BIX) in Pyeongtaek spans acros...
    01-Sep-2020 News Investments
    M&A: Shiloh enters stock and asset purchase agreement with Grouper Holdings
    Shiloh Industries, Inc., a global supplier of lightweighting, noise and vibration solutions, has entered into a ‘stalking horse stock and asset purchase agreement’ with Grouper Holdings, LLC, a subsidiary of MiddleGround Capital LLC, Shiloh announced in a press release on 30 August 2020. As per ...
    Audi equips SUVs with electromechanical roll stabilization for improved handling
    German luxury and sportscar manufacturer Audi has announced that it will be equipping four of its sports utility vehicles (SUVs) with an electromechanical roll stabilization system that the company calls eAWS. According to a press statement issued by Audi on 26 August, the company has announced that...
    31-Aug-2020 News New Products
    AutoTechInsight Weekly – 31 August 2020
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    Ontario government to invest CAD10 million for ‘Automotive Modernization Program’
    The Ontario government has announced plans to invest CAD10 million (about USD76 million) under its ‘Ontario Automotive Modernization Program (O-AMP),’ according to a press release on the official website of Ontario government on 18 August. The O-AMP plan entails provision of funding for auto par...
    Akebono Brake net sales decline 31.1% y/y to USD340 million during April–June 2020
    Japan-based automotive braking components and systems manufacturer, Akebono, has announced its financial results for the period during April-June 2020. According to a press release issued by Akebono Brake on 28 August, the company stated that it recorded net sales of JPY35.82 billion (approximately ...
    Thyssenkrupp supplies electric steering for Renault Duster SUV in Brazil
    Thyssenkrupp is supplying electric steering systems for the new Renault Duster in Brazil, according to a report by Automotive Business on 24 August. The company has a steering system factory for passenger and light commercial vehicles in São José dos Pinhais. Significance: Thyssenkrupp first su...
    McLaren unveils lightweight vehicle architecture for hybrid supercars
    McLaren Automotive confirmed the introduction of the brand’s all-new, flexible, lightweight vehicle architecture which will form the underpinnings of McLaren’s next generation of electrified supercars. According to a press release issued by McLaren on 25 August, the company states that this new ...
    26-Aug-2020 News New Products
    Indian tiremaker CEAT’s Q1 revenue down 36% y/y to USD148.6 million
    Indian tiremaker CEAT’s net sales declined 36% year on year (y/y) to INR11.2 billion (USD148.6 million) in the first quarter ended 30 June 2020, according to a regulatory filing with Bombay Stock Exchange (BSE) on 29 July. Net loss for the quarter amounted to INR347.6 million compared with a net p...
    INVESTMENT: Magna to establish powertrain systems metal-forming plant in Slovakia
    Canadian automotive components and systems supplier, Magna, has announced a new investment for expanding its powertrain solutions business in Slovakia. According to a press release issued by Magna on 24 August, the company has stated that it will be setting up a new facility at Kechnec, Slovakia. ...
    25-Aug-2020 News Investments
    AutoTechInsight Weekly – 24 August 2020
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    Indian government holds discussion with automotive industry representatives to boost localization
    The Indian government held discussion with various automotive industry representatives to discuss ways to reduce imports in the automobile industry and increase localization of auto components, according to a report by The Economic Times on 22 August. The meeting focused on the possibilities of incr...
    Yokohama doubles manufacturing capacity at Indian plant
    Yokohama India, a wholly-owned subsidiary of Japan-based Yokohama Rubber, has more than doubled the manufacturing capacity at its Indian plant in Bahadurgarh, Haryana, according to a report by Autocar Professional on 10 August. The company has begun commercial production at its Bahadurgarh plant in ...
    24-Aug-2020 News Investments
    Bridgestone announces proposal to close South African tire production facility
    Japanese tire manufacturer Bridgestone’s South Africa division has announced that it plans to shut down its bias tire production plant located in Port Elizabeth, South Africa. In a press release issued by Bridgestone Southern Africa on 20 August, the company stated that this move is aligned with t...
    SPIN-OFF: Alfa’s shareholders approve spin-off of Nemak
    Nemak, S.A.B. de C.V. has announced that shareholders of its parent company Alfa S.A.B. de C.V. have approved a proposal to spin off its entire ownership stake in Nemak, S.A.B. de C.V., according to a company press release on 17 August. The proposal includes transfer Alfa’s entire share ownership ...
    Apollo Tyres’ Q1 sales down 33.7% y/y to USD375.2 million
    Indian tiremaker Apollo Tyres has reported a 33.7% year-on-year (y/y) decline in sales to INR28.2 billion (USD375.2 million) for the first quarter ended 30 June 2020, according to a regulatory filing by the company on 5 August. The company posted loss before taxes of INR1.6 billion compared with pro...
    Continental manufactures Conti.eContact tires for EVs in Romania
    Continental is producing Conti.eContact tires specially designed for electric vehicles (EVs) in Timișoara in Romania, the German supplier announced in a press release on 20 August. The Conti.eContact tire offers, in addition to low rolling resistance, improved braking performance, as well as low no...
    21-Aug-2020 News New Products
    AAM to supply independent rear drive axles for GM’s full-size SUVs
    The US-based chassis components supplier, American Axle & Manufacturing (AAM), has announced that it has developed a new independent rear-drive axle for General Motors’ (GM's) vehicles. In a press release issued by AAM on 19 August, the company stated that this component will be used in GM’s...
    20-Aug-2020 News New Products
    Indian auto component industry’s turnover in FY 2019/20 declines 11.7% y/y to USD49.2 billion
    The turnover of the Indian auto component industry declined 11.7% year-over-year (y/y) to INR 3.49 trillion (USD49.2 billion) in financial year ended 31 March 2020, according to a press release by the Automotive Components Manufacturers Association of India (ACMA) on 19 August. According to the asso...
    AutoTechInsight Webinar: The Future of User Interface and User Experience & SID Display Week Review
    Watch an on-demand replay now AutoTechInsight Webinar: The Future of User Interface and User Experience & SID Display Week Review As OEMs continue to look for more ways to differentiate their brands from their competitors, the interior of the vehicle has become a main area of rese...
    19-Aug-2020 News Webinars
    Varroc’s Q2 revenue falls 55.5% y/y to USD169.1 million
    Varroc Engineering has reported a decline of 55.5% year on year (y/y) in revenue from operations to INR12.7 billion (USD169.1 million) for the first quarter ended 30 June 2020, according to a regulatory filing on 14 August. Net loss for the quarter stood at INR2.9 billion compared with net profit of...
    Kumho supplies OE tires for Renault Samsung XM3 and Kia Motors Seltos in South Korea
    Kumho Tire is supplying tires as OE fitment for Renault Samsung XM3 and Kia Motors Seltos in South Korea, reports The Korea Herald on 18 August. The Korean tiremaker is supplying its Solus TA31 tires for Kia Seltos in 16- and 17-inch seizes. The company is supplying Solus TA31 tires in 16- and ...
    Nexteer’s H1 2020 revenues slides 33.9% y/y to USD1.2 billion
    US-based automotive steering and other components supplier, Nexteer, has announced its financial results for the first half of 2020. According to a press release issued by Nexteer dated 18 August, the company stated that it posted a revenue of USD1.2 billion during the first six months of 2020. T...
    CEAT Tyres supplies OE tires for Mahindra’s new Thar SUV
    India-based CEAT Tyres is supplying tires as original equipment (OE) fitment for Mahindra’s all-new Thar, which was revealed earlier this week, Autocar Professional reported on 15 August. The new Thar, which goes on sale from 2 October, will be equipped with Czar AT tires from CEAT. The company wi...
    New Mercedes-Benz S-Class features E-Active Body Control suspension, rear-axle steering
    German luxury and sportscar manufacturer, Mercedes-Benz, has announced that the newest version of its flagship sedan, the S-Class, will be equipped with E-Active Body Control suspension for improved comfort and safety. According to a press release issued by Mercedes-Benz on 29 July, the company stat...
    18-Aug-2020 News New Products
    Ferodo supplies OE brake pads for MY 2020 Volkswagen Golf
    Germany-based carmaker, Volkswagen, has selected Ferodo to supply brake pads for its new MY 2020 Golf hatchback. According to a report filed by motoring publication The Brake Report on 11 August, Ferodo also stated that it would provide Eco-Friction replacement brake pads for the new VW Golf as well...
    AutoTechInsight Weekly – 17 August 2020
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    thyssenkrupp’s October-June sales slide 15% y/y to USD25.6 billion
    Germany-based components and systems supplier, thyssenkrupp AG, has released its financial results for the first nine months of the 2019–20 fiscal year. According to a press released issued by thyssenkrupp dated 13 August, the company announced that it posted sales of EUR21.6 billion (approximatel...
    China Automotive Systems’ Q2 net sales drops 21.3% y/y to USD83.2 million
    China Automotive Systems (CAS) has reported 21.3% year-over-year (y/y) decline in net sales to USD83.2 million, the Chinese power steering components and systems said in a press release on 14 August. The company recorded operating loss of USD5.2 million against operating income of USD2.6 million in ...
    KSM Castings to lay off 400 employees in Germany as part of planned restructuring
    KSM Castings Group GmbH, one of the leading automotive suppliers of lightweight aluminum and magnesium cast components for chassis, transmissions, and engines, has announced that the company will adjust personnel capacities in Germany as part of a planned restructuring, the company said in a pr...
    Knorr-Bremse CEO Bernd Eulitz resigns
    Knorr-Bremse CEO and chairman of the executive board Bernd Eulitz has resigned from his post with effect from 31 August 2020, according to a company press release on 13 August. This was decided unanimously by the supervisory board in its meeting. The supervisory board has initiated the search f...
    Suppliers to the new Opel/Vauxhall Grandland X
    The first-generation Opel/Vauxhall Grandland X is assembled at Opel's facility in Eisenach, Germany. According to IHS Markit production forecasts, output of the new generation Opel/Vauxhall Grandland X from the plant is expected to peak in 2021 at over 86,000 units. If you would like you...
    NTN Corporation’s Q1 2020 net sales fall 46.5% y/y to USD871 million
    Japan-based automotive components supplier, NTN Corporation, has published its financial results for the first quarter of 2020. According to a press release issued by NTN Corporation on 4 August, the company posted a net sales of JPY91.9 billion (approximately USD871 million) during first quarter 20...
    AAM’s Q2 2020 sales slide 69.7% y/y to USD515.3 million
    American Axle & Manufacturing Holdings (AAM) has reported a 69.7% year-on-year (y/y) slump in second quarter sales at USD515.3 million, the company said in a press release on 31 July. Net loss came in at USD212.2 million compared with a profit of USD52.7 million a year earlier. “AAM’s fin...
    Martinrea Q2 2020 slides 51.4% y/y to USD345.54 million
    Martinrea has reported a fall of 51.4% year on year (y/y) in its revenues to CAD460.5 million (USD345.54 million) for the second quarter ended 30 June 2020, according to a company press release on 10 August. Net loss for the period was CAD146.8 million, compared with net income of CAD28.1 million. T...
    M&A: Veoneer completes divestiture of US brake control business to ZF
    Swedish automotive technology provider, Veoneer, has announced that it has completed the divestment of its US-based brake control business unit. According to a press release issued by Veoneer on 11 August, the company stated that its US brake control business unit has been divested to German automot...
    Aluminum brake calipers to experience increased demand after 2025
    Over many years of automotive innovation, vehicle safety has experienced many innovations and developments in order to keep occupants safe under almost all circumstances. Tracing back, the very first automotive safety feature is the braking system. Automotive brakes have also gone through their fair...
    Kongsberg Q2 2020 revenue decreases 47.8% y/y to USD173.2 million
    Kongsberg Automotive posted a 47.8% year-on-year (y/y) fall in second quarter revenue at EUR153.6 million (USD173.2 million), the company said in a press release on 6 August. Net loss amounted to EUR116.7 million compared to a profit of EUR4.9 million a year earlier. Revenues from its Powertrain ...
    Michelin’s H1 2020 sales fall 20.6% y/y to USD11.01 billion
    Michelin has reported a 20.6% year-on-year (y/y) decline in sales to EUR9.3 billion (USD11.01 billion) for the first six months ended 30 June 2020, according to a company press release on 27 July. Segment operating income fell by 78.4% y/y to EUR310 million. Net loss for the period amounted to EUR13...
    Bridgestone H1 2020 revenue drops 22.1% y/y to USD12.8 billion
    Japanese tire manufacturer Bridgestone has released its financial performance results for the first half of 2020. According to a press release issued by Bridgestone on 7 August, the company has posted a revenue of JPY1.36 trillion (approximately USD12.8 billion) during the first six months of this y...
    Yokohama’s H1 2020 revenue slides 20.6% y/y to USD2.33 billion
    Yokohama Rubber Co., Ltd. has reported a 20.6% year-on-year (y/y) decline in sales to JPY247.1 billion (USD2.3 billion) for the first six months ended 30 June 2020, according to a company press release on 7 August. Profit attributable to owners of parent declined 92.5% y/y JPY1.3 billion and operati...
    Vibracoustic develops active hydraulic motor mount systems to improve NVH levels
    Germany-based anti-vibration systems and suspension systems supplier, Vibracoustic, has developed active motor mount systems to dampen vibrations resulting from the use of cylinder deactivation and higher combustion pressures for internal combustion engines (ICEs). In a press statement issued by ...
    11-Aug-2020 News New Products
    AutoTechInsight Weekly – 10 August 2020
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    ZF Group’s H1 2020 sales drop 26.4% y/y to USD15.2 billion
    ZF Friedrichshafen has reported a 26.4% year-on-year (y/y) decline in sales in EUR13.5 billion (USD15.2 billion) for the first half ended 30 June 2020, according to a company press release on 7 August. The company posted negative EBIT of EUR640 million, compared with positive EBIT of EUR380 million ...
    Hirschvogel invests in UK-based autonomy and e-mobility software startup Eatron
    ​​Germany-based Hirschvogel Automotive Group’s strategic investment subsidiary Hirschvogel Ventures has announced that it will invest over EUR1 million in UK-based autonomy and e-mobility software startup Eatron Technologies, the startup announced in a press release on 13 July. The two compani...
    10-Aug-2020 News Investments
    Superior Industries’ Q2 2020 net sales slide 58.9% y/y to USD144.8 million
    Aluminum wheel supplier Superior Industries has reported a 58.9% year-on-year (y/y) decline in net sales to USD144.8 million for the second quarter ended 30 June 2020, the company said in a press release on 5 August. The company posted a loss of USD34.1 million from operations compared with an incom...
    Magna’s Q2 2020 sales fall 57.6% y/y to USD4.2 billion
    Canada-based automotive components manufacturer Magna has reported a 57.6% year on year (y/y) in sales to USD4.2 billion for the second quarter ended 30 June 2020, according to a company press release on 7 August. Loss from operations before income taxes amounted to USD789 million compared with inco...
    Audi develops electronic chassis platform for interlinking chassis systems
    German luxury and sportscar manufacturer Audi’s Electronic Chassis Platform (ECP), is now interlinking various chassis systems such as the electromechanical Active Roll Stabilization (eAWS), predictive active suspension, and the Dynamic All-wheel Steering (DAS). In a press release issued by Aud...
    10-Aug-2020 News New Products
    TATNEFT and JSC Allur Group to jointly establish tire manufacturing plant in Kazakhstan
    The Russian company PJSC TATNEFT and JSC Allur Group of Companies have agreed to establish a joint tire manufacturing facility in Kazakhstan, TATNEFT said in a press release on 28 July. The two companies have signed an agreement of intent and the roadmap for the implementation of a project for the c...
    07-Aug-2020 News Investments
    Tenneco’s Q2 2020 revenue drops 42.2% y/y to USD2.6 billion
    Tenneco has reported second quarter 2020 revenue of USD2.6 billion, down 42.2% year on year (y/y), according to a company press release on 6 August. The company reported a net loss for the quarter of USD350 million, compared with net income of USD26 million in the same period of the previous fiscal ...
    Continental’s Q2 sales decline 41% y/y to USD7.4 billion
    Continental’s sales declined 41.2% year over year (y/y) to EUR6.62 billion (USD7.4 billion) in the second quarter ended 30 June 2020, the Germany-based automotive supplier said in a press release on 5 August. Organic sales—sales adjusted for changes in the scope of consolation and the excha...
    Pirelli’s H1 2020 revenue falls 31.6% y/y to USD2.16 billion
    Italian automotive tire manufacturer Pirelli has announced its financial results for the first half of 2020. According to a press release issued by Pirelli on 5 August, the company has posted revenues of EUR1.82 billion (approximately USD2.16 billion) during the first half of this year. This implies...
    Illinois Tool Works’ Q2 2020 revenue declines 29% y/y to USD2.56 billion
    US-based automotive components and specialty products supplier, Illinois Tool Works, has reported its financial results for the second quarter of this year. In a press release issued by ITW on 31 July, the company stated that it posted a revenue of USD2.56 billion during the second quarter 2020...
    Nokian Tyres’ Q2 2020 net sales fall 34.9% y/y to USD317.7 million
    Nokian Tyres has reported a 34.9% year-on-year (y/y) decline in sales to EUR270.7 million (USD317.7 million) for the second quarter ended 30 June 2020, according to a company press release on 4 August. The company posted operating loss and net loss of EUR22.8 million and EUR24.8 million, compared wi...
    SAIC-GM recalls 249,953 vehicles in mainland China over defective brake lines
    SAIC General Motors Corporation Ltd (SAIC-GM), a joint venture between the Shanghai-based SAIC Motor and General Motors, is recalling 249,953 Buicks in mainland China over defective brake lines, XinhuaNet reported on 3 August citing mainland China's quality watchdog State Administration for Market R...
    05-Aug-2020 News Recalls
    Hankook Tire’s Q2 2020 sales fall 25% y/y to USD1.12 billion
    South Korean tiremaker Hankook Tire has reported a 21.4% year-on-year (y/y) decline in sales to KRW1.36 trillion (about USD1.12 billion) for the second quarter ended 30 June 2020, according to a company press release on 3 August. The operating profit for the quarter amounted to KRW70.1 billion, down...
    Aisin Group’s Q1 revenue drops 42.3% y/y to USD5.2 billion
    Aisin Seiki’s revenue declined 42.3% year on year (y/y) to JPY555.3 billion (around USD5.2 billion) in the first quarter ended 30 June 2020, the company said on 31 July. Net loss for the quarter was JPY50.3 billion against net profit of JPY17.4 billion in the same period a year ago. The company po...
    Goodyear’s Q2 2020 sales decline 41% y/y to USD2.1 billion
    US-based Goodyear Tire & Rubber Company has announced its second quarter 2020 results. According to a press release on 31 July, the company registered sales of USD2.1 billion during the second quarter of 2020, down 41% year on year (y/y). The tiremaker has reported segment operating loss of USD4...
    Bridgestone Americas appoints Charlie Rule new president of Latin America Operations
    Bridgestone Americas, Inc. has appointed Charlie Rule, formerly VP of Operations, Latin America, as president, Bridgestone Americas Tire Operations Latin America (BATO LA), according to a company press release on 3 August. The appointment is effective 1 August. Rule succeeds Joseph Saoud for the com...
    Cooper Tire’s Q2 2020 net sales slide 26.9% y/y to USD496 million
    American tiremaker Cooper Tire & Rubber Company has reported a 26.9% year-on-year (y/y) decline in new sales to USD496 million for the second quarter ended 30 June 2020, according to a company press release on 3 August. Operating profit for the quarter was USD5 million, a decline of 83.2% y/y. ...
    Gestamp's revenues fall 32.5% y/y to USD3.4 billion in H1 2020
    Spain-based automotive structural components supplier Gestamp’s revenues declined by 32.5% year on year (y/y) to EUR3 billion (USD3.4 billion) during the first six months ended 30 June 2020, according to a company press release on 30 July. The company posted operating loss of EUR190.1 million agai...
    AutoTechInsight Weekly – 3 August 2020
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    Brembo’s H1 2020 revenue slides 28.2% y/y to USD1.12 billion
    Italy-based automotive braking systems manufacturer, Brembo, has announced its financial results for the first half of 2020. According to a press release issued by Brembo on 29 July, the company’s first half of 2020 revenue stood at EUR951.1 million (approximately USD1.12 billion), which impl...
    Yokohama supplies OE tires for Mercedes-AMG’s new GLA, GLE models
    Yokohama Rubber Co., Ltd. is supplying ‘ADVAN Sport V107’ tires as OE fitment for Mercedes-AMG’s new GLA, GLE models. The Japanese company is supplying its ‘ADVAN Sport V107’ tires for the new GLE 53 4MATIC+ Coupe, which was launched in Europe in November 2019. The new GLE 53 4MATI...
    Sogefi’s H1 2020 revenue slides 33.2% y/y to USD610 million
    Italian automotive components supplier, Sogefi, has announced its financial results for the first half of this year. According to a press release issued by Sogefi on 27 July, the company posted a revenue of EUR519.5 million (approximately USD610 million) during the first half of this year, whic...
    AutoTechInsight Weekly – 27 July 2020
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    CIE Automotive H1 sales decreases 29% y/y to USD1.35 million
    CIE Automotive has reported a decline of 29% year on year (y/y) in its sales for the first half of 2020 to EUR1.2 billion (about USD1.35 billion), according to a company press release on 24 July. EBITDA for the period was EUR153.5 million and a net result of EUR58.3 million. The company generates EU...
    All-new Mercedes-Benz S-Class to offer airbag for rear seat passengers
    The new Mercedes-Benz S-Class will feature airbag for rear-seat passengers, according to a company press release on 24 July. The new Mercedes-Benz S-Class will be premiered in September. “It is the first vehicle worldwide to be equipped with airbags for rear-seat passengers to protect them in the ...
    27-Jul-2020 News New Products
    Continental develops tires for EVs
    Continental has developed new tires specifically for electric vehicles (EVs), according to a company press release on 24 July. The German company explained that EVs are heavier due to their batteries, which weigh more than a full tank of fuel for an internal combustion engine (ICE). Hybrids have not...
    27-Jul-2020 News New Products
    Hyundai Mobis Q2 sales declines 20.4% y/y to USD6.24 billion
    Hyundai Mobis has reported 20.4% year-over-year (y/y) decline in net sales to KRW7.54 trillion (USD6.24 billion) in the second quarter ended 30 June 2020, the company said in a regulatory filing. Operating profit fell by 73.1% y/y to KRW168.7 billion. Hyundai Mobis concluded the second quarter with ...
    AutoTechInsight Webinar: E-Mobility Technology Perspectives for the Decade Ahead
    Watch an on-demand replay now Despite existing and immediate pressures generated by the COVID-19 crisis, the automotive industry direction of travel towards increasingly electrified propulsion remains intact. Challenges imposed by air quality legislation and CO2 requirements remain, whilst invest...
    24-Jul-2020 News Webinars
    Seven automakers to recall more than 34,000 vehicles in South Korea over faulty parts
    Seven automakers namely Hyundai, Kia, Renault Samsung, Mercedes-Benz, BMW, Toyota, and Hanbul Motors (which imports Peugeot and Citroën vehicles into South Korea) are recalling more than 34,000 vehicles in South Korea to fix separate issues, according to a report by Yonhap News Agency on 17 Ju...
    24-Jul-2020 News Recalls
    Cooper Tire to expand capacity at Kruševac facility in Serbia
    Cooper Tire & Rubber Company has announced that its subsidiary Cooper Tire Serbia is expanding production capacity at its Kruševac tire manufacturing plant, the tiremaker said in a press release on 23 July 2020. The company is investing approximately USD55 million in equipment upgrades and faci...
    24-Jul-2020 News Investments
    Nidec’s Q1 revenue down 6.6% y/y to USD3.1 billion
    Nidec has reported a decline of 6.6% year on year (y/y) in revenues to JPY336.9 billion (about USD3.1 billion) for the first quarter ended 30 June 2020, the Japanese supplier said in a press release on 21 July. Operating profit for the quarter grew 1.7% y/y to JPY28.1 billion. The company posted a m...
    Constellium’s Q2 2020 revenue drops 33% y/y to USD1.12 billion
    Constellium has reported a decline of 33% year on year (y/y) in revenue to EUR1 billion (about USD1.12 million) for the second quarter ended 30 June 2020, according to a company press release on 22 July. The company posted a net loss of EUR32 million, compared with net income of EUR17 million in the...
    SKF H1 2020 net sales drops 25% y/y to USD1.77 billion
    Sweden-based bearing and seal manufacturing firm SKF has announced that its net sales during the second quarter of 2020 fell organically by 25% year over year (y/y) to SEK16.6 billion (approximately USD1.77 billion). The company also stated that sales in Europe and North America slipped by around 30...
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