Groupe PSA and FCA plan to join forces to build a world leader for a new era in sustainable mobility

Discussions have opened a path to the creation of a new group with global scale and resources owned 50% by Groupe PSA shareholders and 50% by FCA shareholders. In a rapidly changing environment, with new challenges in connected, electrified, shared and autonomous mobility, the combined entity would leverage its strong global R&D footprint and ecosystem to foster innovation and meet these challenges with speed and capital efficiency.

in PSA / FCA, 31-10-2019


  • The combination would create the 4th largest global OEM in terms of annual unit sales (8.7m vehicles)
  • At its inception, the combined company would realize among the highest margins in the markets where it would operate, based on FCA’s strength in North America and Latin America and Groupe PSA’s in Europe
  • The combination would unite the groups’ respective brand strengths across Luxury, Premium, Mainstream Passenger Car, SUV and Trucks & Light Commercial – making them stronger together
  • The merged entity would bring together the companies’ extensive and growing capabilities in the technologies shaping the new era of sustainable mobility, including electrified powertrain, autonomous driving and digital connectivity
  • Approximately €3.7 billion estimated annual run-rate synergies without any plant closures resulting from the transaction
  • Highly respected combined management team recognised for exceptional value creation and with proven success in previous OEM combinations
  • Dutch parent company Board would have balanced representation and a majority of independent Directors. John Elkann as Chairman and Carlos Tavares as CEO and member of the Board

London and Rueil Malmaison 31 October 2019. The Supervisory Board of Peugeot S.A. and the Board of Directors of Fiat Chrysler Automobiles N.V. (“FCA”) (NYSE: FCAU / MTA: FCA). have each unanimously agreed to work towards a full combination of their respective businesses by way of a 50/50 merger. Both boards have given the mandate to their respective teams to finalize the discussions to reach a binding Memorandum of Understanding in the coming weeks.

The plan to combine the Groupe PSA and FCA businesses follows intensive discussions between the senior managements of the two companies. Both share the conviction that there is compelling logic for a bold and decisive move that would create an industry leader with the scale, capabilities and resources to capture successfully the opportunities and manage effectively the challenges of the new era in mobility.

The proposed combination would create the 4th largest global OEM in terms of unit sales (8.7 million vehicles), with combined revenues of nearly €170 billion[1] and recurring operating profit of over €11 billion[2] on a simple aggregated basis of 2018 results excluding Magneti Marelli and Faurecia. The significant value accretion resulting from the transaction is estimated to be approximately €3.7 billion in annual run-rate synergies derived principally from a more efficient allocation of resources for large-scale investments in vehicle platforms, powertrain and technology and from the enhanced purchasing capability inherent in the combined group’s new scale. These synergy estimates are not based on any plant closures.

It is projected that 80% of the synergies would be achieved after 4 years. The total one-time cost of achieving the synergies is estimated at €2.8 billion.

The shareholders of each company would own 50% of the equity of the newly combined group and would therefore share equally in the benefits arising from the combination. The transaction would be affected by way of a merger under a Dutch parent company and the governance structure of the new company would be balanced between the contributing shareholders, with the majority of the directors being independent. The Board would be composed of 11 members. Five Board members would be nominated by FCA (including John Elkann as Chairman) and five would be nominated by Groupe PSA (including the Senior Independent Director and the Vice Chairman)[3]. The Chief Executive Officer would be Carlos Tavares for an initial term of five years and he would also be a member of the Board.

Carlos Tavares said: “This convergence brings significant value to all the stakeholders and opens a bright future for the combined entity. I’m pleased with the work already done with Mike and will be very happy to work with him to build a great company together.”

Mike Manley said, “I’m delighted by the opportunity to work with Carlos and his team on this potentially industry-changing combination. We have a long history of successful cooperation with Groupe PSA and I am convinced that together with our great people we can create a world class global mobility company.”

The new group’s Dutch-domiciled parent company would be listed on Euronext (Paris), the Borsa Italiana (Milan) and the New York Stock Exchange and would continue to maintain significant presences in the current operating head-office locations in France, Italy and the US.

It is proposed that the by-laws of the new combined company would provide that the loyalty voting program will not operate to grant voting rights to any single shareholder in the Shareholders Meeting exceeding 30%[4] of the total votes cast. It is also foreseen that there would be no carry over of existing double voting rights but that new double voting rights would accrue after a three-year holding period after completion of the merger.

A standstill in respect of the shareholdings of EXOR N.V., Bpifrance Participations SA, DFG and the Peugeot Family would apply for a period of 7 years following completion of the merger. EXOR, Bpifrance Participations and the Peugeot Family would be subject to a 3-year lock-up in respect of their shareholdings except that the Peugeot Family would be permitted to increase its shareholding by up to 2.5% during the first 3 years following the closing, only by acquiring shares from Bpifrance Participations and DFG.

Prior to the completion of the transaction, FCA would distribute to its shareholders a special dividend of €5.5 billion, as well as its shareholding in Comau. In addition, prior to completion, Peugeot would distribute to its shareholders its 46% stake in Faurecia. This would enable the combined groups’ shareholders to equally share in the synergies and benefits that would flow from a merger while recognizing the significant value of FCA’s differentiated platform in North America and strong position in Latin America, including its market-leading margins in those regions. It would also reflect the added value that FCA’s higher-end global brands Alfa Romeo and Maserati would bring given their substantial development potential.

The extended portfolio would cover all market segments with iconic brands and strong products based on rationalized platforms and optimization of investments.

The proposal would be submitted to the information and consultation process of the relevant employee bodies, and would be subject to customary closing conditions, including final board approvals of the binding Memorandum of Understanding and agreement on definitive documentation.

 

 

 

 

UK Auto gives reality check on ‘no deal’ Brexit, as new survey shows one in three firms already shedding jobs

  • New survey shows escalating fears of ‘no deal’ Brexit to UK automotive sector, with a third cutting jobs and 80.3% concerned about damage to their future business prospects.1
  • More than £500m already wasted on measures that will not deliver returns, rather than being invested in much-needed R&D.2
  • Profitability, new business opportunities and investment all under threat as industry faces £5bn WTO tariff bill on cars and vans alone – a cost which cannot be mitigated.3
  • All sides urged to agree an orderly withdrawal with sufficient transition time to negotiate an ambitious free and frictionless economic relationship between the UK and the EU.

in SMMT, 15-10-2019


With fewer than 20 days to go before the UK is due to leave the EU, the British automotive industry is today urging an end to dangerous talk of ‘no deal’ and for all sides to focus energies on an orderly withdrawal to safeguard jobs and the sector’s long-term survival. The call comes as the Society of Motor Manufacturers and Traders (SMMT) publishes the results of a new survey revealing the escalating fears of an industry dependent on free and frictionless trade with the EU.

The results are consistent and striking. One in three UK automotive businesses is already cutting jobs, up from one in eight when the survey was last carried out in November 2018. Four-fifths (80.3%) fear leaving the EU without a deal will have negative consequences for their future prospects (up from 74.1% 10 months ago).

Virtually the same number (79.6%) are worried about the impact on their profitability while two-thirds (62.2%) are saying ‘no deal’ will impact their ability to win overseas business and a similar number state that they will be unable to invest in their UK operations.

In a sign that the mere threat of ‘no deal’ has already hurt the UK, 11.8% of firms said that they had already divested from their UK-based operations and 13.4% are relocating operations overseas. Overall, three quarters (77.2%) of firms say that there has already been a negative impact on business even before the UK has left the EU.

The industry has also taken considerable steps to prepare for the possibility of ‘no deal’, with the vast majority (73.2%) actively preparing for post-Brexit disruption. Almost half have spent money on stockpiling and warehousing to mitigate against the risk of border delays and production stoppage and SMMT’s 2019 UK Automotive Trade Report calculates that a ‘no deal’ Brexit would knock £50,000 a minute off the sector’s economic contribution.4 Meanwhile, a third have made adjustments to logistics and shipping routes, and 26.8% have been forced to invest hard-won profits in new customs infrastructure, despite a recognition that such systems cannot guarantee against border delays in the event of ‘no deal’.

Separate SMMT research has already shown that some of the UK’s biggest automotive manufacturers have spent more than £500 million in an attempt to mitigate at least some of the risks of a ‘no deal’ scenario. The industry cannot, however, fully prepare for all the uncertainties and many will not survive the application of a 10% tariff on finished vehicles as they already operate on wafer-thin margins. At a time when the global automotive industry is striving to develop ever safer, cleaner and more advanced technology, manufacturers in the UK are being forced to waste money on ‘no deal’ survival measures.

Mike Hawes, SMMT Chief Executive, said,

As the Brexit clock ticks ever closer to midnight, this survey reveals the bleak future that awaits this vital sector in the event of ‘no deal’. Damage has already been done: investment is haemorrhaging, competitiveness being undermined, UK jobs cut and vast sums wasted on the impossibility of preparing for ‘no deal’. Make no mistake, every day ‘no deal’ remains a possibility is another day of lost investment, another day that makes it harder to recover investor confidence in the UK.

As yet, the damage is not irreversible. But we need a deal. A deal that, in the short term, enables a “business as usual” transition for as long as it takes to negotiate and implement the future trading relationship. In the longer term, that deal must replicate all of the benefits we currently enjoy which means an ambitious deal that delivers free and frictionless trade. UK jobs, innovation, trading strength and economic growth all depend on the automotive sector so we urge all parties to get a good deal done before it is too late.

Automotive is the UK’s single biggest exporter of goods, trading with some 160 countries worldwide, and accounting for more than 14% of total exports. The sector is one of the country’s most valuable economic assets, directly responsible for putting food on the tables of the families of 168,000 people, supporting communities and delivering an annual £18.6 billion to the public purse – more than the NHS’ total annual spend on medicines.5 Leaving the EU without a deal would jeopardise this, causing serious economic damage and putting thousands of jobs at risk.

Notes to editors

1. SMMT Member Brexit Survey – 80.3% vs 74.1%; one in three versus one in eight. Survey results based on the responses of 158 SMMT member companies to an online poll conducted in 2019.
2. SMMT member research conducted 2019.
3. Based on the application of a 10% standard tariff on cars exported to and imported from the EU.
4. 2019 UK Automotive Trade Report: https://www.smmt.co.uk/wp-content/uploads/sites/2/2019-UK-AUTOMOTIVE-TRADE-REPORT.pdf
5. £17.4 billion in 2017 – https://www.kingsfund.org.uk/publications/rising-cost-medicines-nhs

 

 

Indústria automóvel. FMI deixa avisos sobre sector que vale 15% das exportações portuguesas

As perspetivas de curto prazo para a indústria automóvel permanecem “lentas”, avisa o Fundo Monetário Internacional no World Economic Outlook, publicado esta terça-feira. O cenário é “conservador” para um sector que vale 15% das exportações portuguesas de bens

in Expresso, por Sónia M. Lourenço, 15-10-2019


A indústria automóvel registou em 2018 a primeira contração a nível global desde 2009 e as perspetivas para 2019 e 2020 não são famosas. Quem o diz é o Fundo Monetário Internacional (FMI), no World Economic Outlook, publicado esta terça-feira, em Washington, onde decorre a assembleia-geral da organização, em conjunto com o Banco Mundial. É um alerta para Portugal, já que o sector é um dos mais importantes nas exportações portuguesas de bens, representando 15% do total nos primeiros nove meses deste ano, indicam os dados do Instituto Nacional de Estatística.

No ano passado, a evolução negativa da indústria automóvel no foi “um fator importante no abrandamento” da economia global, constata o FMI. Até porque estamos a falar de um sector “interligado a nível global com uma grande pegada económica”, frisa o Fundo.

Basta notar que os veículos e as suas partes e acessórios ocupam o quinto lugar no ranking das exportações globais de produtos, representando cerca de 8% do total em 2018.

Segundo as estimativas do FMI, a contração na produção automóvel retirou 0,04 pontos percentuais ao crescimento global no ano passado que, recorde-se, abrandou de 3,8% em 2017, para 3,6%.

Uma evolução negativa associada a fatores como a reversão de cortes fiscais na China, condições finaceiras mais apertadas, o aumento das tarifas sobre a importação de veículos, o lançamento de novos testes sobre as emissões poluentes na Europa. E que tem como pano de fundo a mudança do diesel para a gasolina e para os veículos elétricos.

E o cenário para a indústria automóvel continua a não ser animador. O FMI fala em perspetivas “lentas” no curto-prazo e num cenário “conservador”. Muito por causa do agravamento das tarifas alfandegárias, no contexto da guerra comercial entre Washington e Pequim e da incerteza relacionada com o Brexit.

Em Portugal, o ano está a ser positivo para o sector, com as exportações a subirem 13,8% entre janeiro e agosto, para 5,93 mil milhões de euros, impulsionadas pela produção do T-Roc na Autoeuropa. E a evolução positiva estende-se a outras unidades industriais.

Contudo, com as projeções internacionais a apontarem uma contração na produção global este ano e uma estagnação em 2020, os sinais são de alerta para a economia portuguesa.

 

PINTO BRASIL AT PRODUCTRONICA 2019 | 12 – 15 NOVEMBER Munich, Germany

Since 1991 Pinto Brasil has dedicated its activity to the development of technical industrial solutions to satisfy customer’s needs.

in Pinto Brasil, 11-10-2019


Specialized in metalworking and highly oriented to the automotive industry, Pinto Brasil meets the highest demanding standards, thus being a preferred supplier to some of the largest companies in automotive industry.

Nowadays, the company develops Intralogistics and Production Systems having today a wide portfolio of solutions answering the needs of automotive partners.

The commitment to R&D is one of the pillars of sustainability of the organization. R&D activities together with scientific entities, customers, suppliers and other third parties, ensures the reliability and integrability of the solutions.

No other trade fair gives us such a comprehensive look at the global market for electronics production as Productronica. Every two years, the “Who’s Who” of the industry gathers in Munich for a unique trade show with innovative solutions and products for the entire value chain in electronics manufacturing.

There are plenty of good reasons why in 2017 1,560 exhibitors participated in the fair to present their latest developments to some 44,987 competent trade visitors from 96 countries, to make contacts with decision-makers from all sectors of the electronics-manufacturing industry and to give themselves a valuable information advantage.

As an international trade fair for electronics production, Productronica brings together all domestic and international participants in the industrial, research and media sectors.

Pinto Brasil presence in this international trade fair will give the best possible choice of new partners and potential new customers from around the world.

 

https://pintobrasil.com/

 

 

 

 

A AFIA juntamente com outras 22 Associações da Indústria Automóvel diz não a um Brexit sem acordo

EU Automotive leaders unite to say “no” to ‘no deal’ Brexit

  • Europe’s leading automotive representatives warn of catastrophic consequences of a ‘no deal’ Brexit.
  • Barrier-free trade crucial for continued success of the deeply integrated pan-European auto sector.
  • Application of WTO tariffs on cars and vans could mean €5.7bn bill for EU/UK industry and consumers.
  • Sector calls for no-deal to be ruled out to safeguard the future of European automotive.

Monday 23 September, 2019 With just over one month to go before the UK is due to leave the EU, the European automotive industry today made a united call for the UK and the EU to avoid a ‘no deal’ Brexit. The lead organisations representing vehicle and parts manufacturers across the EU, the European Automobile Manufacturers Association (ACEA) and European Association of Automotive Suppliers (CLEPA), as well as 21 national associations, including the Committee of French Automobile Manufacturers (CCFA), the German Association of the Automotive Industry (VDA), and the Society of Motor Manufacturers and Traders (SMMT), joined forces to stress the impact a ‘no deal’ Brexit would have on one of Europe’s most valuable economic assets.

 

The automotive industry is one of the EU’s biggest success stories and contributors to growth and wealth, producing 19.1 million vehicles a year and employing 13.8 million people across the wider sector – one in 16 of the EU’s workforce.1 Fundamental to this has been the deeply integrated nature of the industry, which has sought to maximise single market and customs union benefits to the advantage of businesses EU-wide.

 

European industry chiefs today warned that the repercussions of ‘no deal’ to this vital sector will be severe. The UK’s departure from the EU without a deal would trigger a seismic shift in trading conditions, with billions of Euros of tariffs threatening to impact consumer choice and affordability on both sides of the Channel. The end of barrier-free trade could bring harmful disruption to the industry’s just-in-time operating model, with the cost of just one minute of production stoppage in the UK alone amounting to €54,700 (£50,000).2 Meanwhile, WTO tariffs on cars and vans could add €5.7 billion (£5 billion) to the collective EU-UK auto trade bill,3 raising prices for customers if manufacturers cannot absorb the additional cost. Automotive manufacturers believe that such disruption and cost must be avoided, and that all effort should be made to deliver an orderly withdrawal of the UK from the EU.

 

Christian Peugeot, CCFA President, said, “Brexit is not just a British problem, we are all concerned in the European automotive industry, and even further. Be it as exporters to the UK market or producers locally, which we are both, we will inevitably be negatively affected.”

 

Bernhard Mattes, VDA President, said, “We regret Brexit. The United Kingdom is a fully integrated player in the value chain of the German Automotive Industry. More than 100 production facilities as well as research and development located in the UK prove our commitment to the UK-market as a number one market in the EU. In the view of the German automotive industry, therefore, everything has to be done to maintain the free movement of goods, of services, the freedom of capital and the freedom of movement for workers between the UK and the EU. At the same time, we acknowledge that the internal market and the cohesion of EU27 are a priority and a pre-condition.

 

“The EU and UK automotive industry need frictionless trade and would be harmed significantly by additional duties and administrative burden on automotive parts and vehicles. Consequently, the UK and the EU should undertake all necessary steps to avoid a no-deal Brexit.”

 

Mike Hawes, SMMT Chief Executive, said, “European Automotive is deeply integrated and the benefits of free and frictionless trade have helped our sector become one of Europe’s most valuable assets, delivering billions to economies and supporting millions of livelihoods across the EU A ‘no deal’ Brexit would have an immediate and devastating impact on the industry, undermining competitiveness and causing irreversible and severe damage. UK and EU negotiators have a responsibility to work together to agree a deal or risk destroying this vital pillar of our economies.”

 

Erik Jonnaert, ACEA Secretary General, said, “Barrier-free trade is crucial for the continued success of the deeply integrated European auto industry, which operates some 230 assembly and production plants right across the EU. Brexit will have a significant negative impact on the automotive sector and a ‘no deal’ Brexit would greatly exacerbate those consequences, causing massive disruptions to an industry which is so vital to Europe’s economy. Even the repeated need to plan and implement contingency measures to deal with a disorderly Brexit is highly disruptive to our members. The European automobile industry therefore calls for all sides to rule out a no-deal scenario as soon as possible.”

 

Sigrid de Vries, CLEPA Secretary General, said, “The European automotive industry is operating highly integrated global supply chains. A single vehicle consists of around 30,000 parts many of which cross borders multiple times. Frictionless and tariff-free trade, as well as regulatory certainty, is vital. Brexit has a negative effect on all these aspects. Brexit, specifically a no-deal Brexit, will be seriously damaging to the supplier’s industry in Europe and the UK and must be avoided.”

 

European automotive is highly integrated, with supply chains that cross multiple countries. A no-deal Brexit would immediately result in the UK no longer being party to EU trade agreements and preferential arrangements with some 30 countries, including Turkey, South Africa, Canada, Japan and South Korea, and content from UK suppliers would no longer contribute to EU originating content for the purposes of rules of origin. This will potentially make it harder for European manufacturers to access the preferential terms of agreed EU trade deals. In addition, a no-deal Brexit would immediately make the EU market smaller, and potentially less attractive to international trade partners.

 

At this time of intense global competition and technological transformation, EU and UK automotive manufacturers need a Brexit outcome that maintains free and frictionless trade and allows them to continue to invest, produce and sell competitively, and that encourages cross-border technological collaboration. This will drive future innovation, benefitting consumers, societies and economies right across Europe. With so much at stake, it is in the interest of all parties to avoid a no-deal Brexit and deliver a managed withdrawal of the UK from the EU.

 

Mario Armero, ANFAC Executive Vice President, said, “Spain is mainly a net exporter of vehicles to the European Union. The Spanish automotive industry sells two thirds of its production outside our frontiers. The United Kingdom is one of the main markets for these sales and, since Brexit was voted, exports have fallen exponentially. The establishment of tariffs and trade barriers worries us and harms the competitiveness of our factories and the development of our highly integrated supply chains. A ‘no deal’ Brexit will further worsen this trade and harm the entire production chain, in Spain and in Europe.”

 

Gianmarco Giorda, ANFIA Director, said, “The UK is the third destination market for parts and components for motor vehicles and the fourth for cars, therefore, it is relevant for the Italian industry, especially for component suppliers who represent an important interlocutor for the local manufacturers. The introduction of new customs tariffs, longstanding procedures and so higher prices could only have a devastating effect on the automotive industry, both for the Italian and for the British ones.”

Mattias Bergman, BIL Sweden Chief Executive, said, “Sweden and our automotive industry is a strong believer in free trade where a barrier free market is crucial for the automotive industry to continue to contribute to society and economic growth within Europe. Brexit by itself is negative for the industry and a ‘no deal’ will add substantial risk and will have large negative impact on not only the industry, but the entire Europe.”

 

Claude Cham, FIEV President, said, “At a time when the global economy is slowing down with volume decrease in our industry; and our entire eco-system is focused on the major challenge with new mobility, the ‘no deal’ Brexit would bring significant loads without values, ??neither for the states nor for the citizens nor for industries. Common sense tells that global competitiveness is directly linked to the size of a market of which the United Kingdom in the EU is of prime importance. This is even more important for the United Kingdom itself, which would be de-facto relegated out of one the world’s largest markets. The ‘no deal’ Brexit will also directly affect Europe’s ability to respond to its own environmental challenges and its global leadership on the issue by weakening its domestic market irrigated by its strong internal market.”

 

Fredrik Sidahl, FKG Chief Executive, said, “The EU with the base foundation of peace has over the years become a true region of automotive industry. For Sweden as a part of EU and extremely dependent on export, EU is the main market. Among all the states in EU, the UK is one of our core individual markets for vehicles and components and we must, with all means avoid a hard brexit both for Sweden but also for Europe. Automotive and the flow of parts and research programs are linked together, and a divorce between the UK and EU will dramatically change this for the worse.”

 

Luc Chatel, PFA President, said, Brexit will have a huge impact on the whole automotive sector in France, on manufacturers as well as on suppliers. The impact will be direct in terms of tariffs, customs procedures, logistics, industrial localisation decisions, etc. And there will also be an indirect impact, as for all economic sectors, because of the foreseeable downturn in the European growth.”

 

Alfred Franke, SDCM President, said, “A ‘no deal’ Brexit plus troubling symptoms of a slowing world economy, global trade tensions between United States and China as well as challenges facing our industry could lead to serious downturn in European automotive industry – one of the most important industries in the EU. Therefore, every effort should be made to ensure that the UK’s exit from the European Union is preceded by an appropriate deal that will protect us from a potential catastrophe.”

 

The 23 Automotive Association signatories include:

 

  • ACAROM – Romanian Association of Automobile Builders https://acarom.ro
  • ACEA – European Automobile Manufacturers Association acea.be
  • AFIA – Portuguese Manufacturers Association for the Automotive Industry afia.pt
  • AIA – Czech Automotive Industry Association autosap.cz
  • ANFAC – Spanish Association of Car and Truck Manufacturers anfac.com
  • ANFIA – Italian Association of the Automobile Industry anfia.it
  • AUTIG – Danish Automotive Trade & Industry Federation autig.dk
  • BIL SWEDEN – Swedish Association of Automobile Manufacturers and Importers bilsweden.se
  • CCFA – Committee of French Automobile Manufacturers ccfa.fr
  • CLEPA – European Association of Automotive Suppliers clepa.eu
  • FEBIAC – Belgian Federation of Automobile and Motorcycle Industries febiac.be
  • FIEV – French Federation of Vehicle Equipment Industries fiev.fr
  • FKG – Scandinavian Automotive Supplier Association https://fkg.se
  • FFOE – Austrian Association of the Automotive Industry fahrzeugindustrie.at
  • ILEA – Luxembourg Automotive Suppliers Association https://www.ilea.lu/
  • OSD – Turkish Automotive Manufacturers Association osd.tr
  • PFA – French Association of the Automotive Industry pfa-auto.fr/
  • SDCM – Polish Association of Automotive Parts Distributors and Producers sdcm.pl
  • RAI – Dutch Association for Mobility Industry https://raivereniging.nl
  • SMMT – Society of Motor Manufacturers and Traders smmt.co.uk
  • SERNAUTO – Spanish Association of Automotive Suppliers http://www.sernauto.es
  • TAYSAD – Automotive Suppliers Association of Turkey taysad.org.tr
  • VDA – German Association of the Automotive Industry vda.de

 

 

Notes to editors

 

  1. Motor industry employees account for 6.1% of total EU employment. Source:acea.be/statistics/tag/category/key-figures

 

  1. Delays to the arrival of components would cost gross value of £70 million a day based on five day working week. This equals £50,000 a minute. Source: smmt.co.uk/wp-content/uploads/sites/2/2019-UK-AUTOMOTIVE-TRADE-REPORT.pdf

 

  1. Tariffs – UK exports to EU27 on WTO terms:

 

Passenger cars Light commercial vehicles/pick ups Commercial vehicles Buses Engines                  (in vehicles) Parts
10 10 22 16 2.7 2 – 5

 

Source: https://madb.europa.eu/madb/euTariffs.htm

 

Temporary Tariffs – UK imports

 

Passenger cars Light commercial vehicles/pick ups Commercial vehicles Buses Engines Parts
10 10 22 16 0 0

 

Source: https://www.gov.uk/government/news/temporary-tariff-regime-for-no-deal-brexit-published

 

 

 

 

O setor automóvel sofrerá uma deterioração do risco de crédito nos próximos cinco anos

A Crédito y Caución salienta que, devido aos desafios estruturais que o setor enfrenta, ocorrerá um aumento nos atrasos e nos incumprimentos mesmo que haja uma reversão no crescente protecionismo e nas limitações ao livre comércio.

in Crédito y Caución, 10-11-2019


A queda nas vendas globais de veículos e os importantes desafios estruturais que o setor enfrenta terão um impacto significativo no risco de incumprimento na indústria automóvel. A Crédito y Caución prevê “um aumento do risco de crédito de muitos fornecedores do setor automóvel estruturalmente mais fracos nos próximos cinco anos, o que levará a um incremento das tensões na liquidez, nos atrasos nos pagamentos e nas insolvências”.

A questão vai além da possível imposição efetiva de tarifas punitivas a veículos e peças por parte dos EUA. A análise da seguradora de crédito realça que este cenário de deterioração do risco ocorrerá mesmo que o crescente protecionismo seja revertido e que as limitações ao livre comércio não se concretizem. Segundo o relatório, que analisa detalhadamente a situação de doze mercados, a reorganização do setor e a evolução dos hábitos de consumo podem levar a “uma grave deterioração da situação financeira de todas as empresas do setor ao longo da cadeia de valor, incluindo os fabricantes de peças originais”.

Num contexto de incerteza em torno das tecnologias que irão prevalecer no futuro da mobilidade, o relatório aponta que “serão necessários grandes investimentos para fazer face às mudanças nas condições do mercado” que ascenderão, apenas no segmento de veículos elétricos, a perto de 300.000 milhões de dólares nos próximos anos. Inovações como a condução autónoma ou a relativa simplicidade dos motores elétricos, que utilizam muito menos peças que os motores de combustão, estão a atrair atores externos ao setor que contam com uma forte capitalização e com vantagens tecnologias que propiciam uma reestruturação da cadeia de valor.

De acordo com as previsões contidas no relatório, as vendas mundiais de carros diminuirão 5% em 2019. Este contexto “representa um grande desafio para a maioria dos pequenos e médios fornecedores. Muitos deles estão a ser fortemente afetados pela atual recessão, na medida em que as vendas se deterioraram e as margens, já escassas, se reduziram ainda mais”. A Crédito y Caución confirma que os níveis de incumprimento e insolvência já estão a aumentar entre os operadores que fornecem componentes de menor valor para um único fabricante.

 

 

Gigaliner da Volkswagen Autoeuropa vai poupar 70 toneladas de emissões de CO2/ano

Solução pioneira no cluster automóvel nacional;
Menos 40% de camiões na rota servida pelo Gigaliner;
Expansão da frota em análise para 2020.

in Volkswagen Autoeuropa, 30-08-2019


A Volkswagen Autoeuropa apresentou hoje o Gigaliner, um camião de três eixos acoplado a um semirreboque e a um dolly que vai poupar 70 toneladas de CO2/ ano, uma redução de cerca de 30% das emissões de CO2 na rota servida por este novo modelo de transporte.

Esta solução logística marca uma mudança significativa no setor da logística e dos transportes, como refere Dinora Guerreiro, diretora da cadeia de abastecimentos e transportes da Volkswagen Autoeuropa: “Com este projeto será possível obter melhorias a vários níveis, mas realço sobretudo as perspetivas ambiental e económica”.

O primeiro Gigaliner ao serviço da Volkswagen Autoeuropa irá percorrer cerca de 150km até ao fornecedor MD Plastics, que se localiza em Valado dos Frades (Nazaré). “Dentro de um ano esperamos estender esta solução a outros fornecedores Portugueses e talvez a fornecedores Espanhóis”, refere ainda Dinora Guerreiro.

Com este novo conceito de transporte, será possível reduzir entre 30% e 40% o tráfego de camiões por semana nesta rota, o que significa uma poupança de custos logísticos de 5% face às condições atuais.

A Torrestir foi o parceiro logístico responsável pela preparação do Gigaliner, que cumpre todos os requisitos legais atuais.

 

 

Exportações de componentes automóveis com record absoluto

No primeiro semestre deste ano as exportações de componentes automóveis registaram resultados positivos ultrapassando os 4.400 milhões de euros

in AFIA, 09-08-2019


De acordo com a AFIA – Associação de Fabricantes para a Indústria Automóvel as exportações de componentes automóveis registaram um crescimento de 2,6% no primeiro semestre de 2019, atingindo o resultado record de 4.400 milhões de euros, quando comparadas com os resultados do mesmo período do ano passado. Esta informação surge com base nos dados de comércio internacional de bens divulgados, hoje, pelo INE.

Em relação aos destinos das exportações a AFIA refere que estes mantêm também a mesma tendência apresentando Espanha e Alemanha como os principais destinos, seguidos de perto pela França e Inglaterra. O conjunto destes quatro países representam assim, 71% do total das exportações, estando os restantes 29% distribuídos por outros países europeus e outros de fora da Europa, como os Estados Unidos da América, Marrocos, China, México e Turquia.

É ainda de notar que entre 2010 e 2019 as vendas de componentes automóveis portugueses ao exterior aumentaram 72%, o que demonstra mais uma vez o contributo positivo desta indústria para a sustentabilidade de economia nacional.

 

Para mais informações clique aqui (ficheiro pdf).

 

 

 

Risk is rising in global auto market, uncertainty remains high

The entire global vehicle market is facing flat-to-falling sales for the foreseeable future, says Jeff Schuster, president of global forecasting at LMC Automotive.

in Automotive News Europe, by Danielle Szatkowski | Automotive News, 06-08-2019


“Risk to auto sales globally is rising, and uncertainty remains high,” Schuster told Automotive NewsEurope sister publication Automotive News.

The mature markets of Western Europe, the U.S., Japan and Korea will likely contract in volume over the next five to seven years, Schuster said, which means the industry’s global growth opportunities will rely on emerging markets.

“This leaves countries that are highly volatile — Brazil, Russia, India, Turkey, China — to drive growth globally,” Schuster said. “But right now, many of these countries are in a decline, and that’s a risk to the long-term global market.”

Schuster forecasts that global light-vehicle sales will decline 2.6 percent in 2019 to 92.2 million units. Through 2025, he expects sales to muster a compound annual growth rate of just under 2 percent.

Trade friction and tariffs will continue to generate risk in global planning, especially with the European Union.

At the same time, more stringent emission regulations, especially in the form of new carbon dioxide requirements in Europe and China, have automakers counting more heavily on sales opportunities in electrification, Schuster said.

China accounted for 60 percent of battery-electric vehicles sold in 2018, totaling 770,000 units, Schuster said, and in 2030, China’s battery-electric vehicle count is expected to reach 6.4 million.

“The challenge in China and Europe is that these manufacturers need their battery-electric vehicles to hit the emission standards,” Schuster said. “There are price and infrastructure challenges that manufacturers will have to face. They also need consumers to buy the vehicles.”

 

 

PSA takes plant efficiency ‘to another level’

Critics of PSA Group’s acquisition of Opel/Vauxhall said Carlos Tavares would have to either lay off thousands of workers, close plants or do both to make the former General Motors unit profitable.

in Automotive News Europe, by Peter Sigal, 05-08-2019


Two years later, Opel’s workforce has been reduced only by about 10 percent to 15 percent, largely through attrition and buyouts. Capacity utilization is on an upward trend, even though sales volumes have dropped at Opel.

PSA assembly plants are running at about 75 percent capacity on average, just inside the margin considered to be profitable, said Justin Cox, a production analyst at LMC Automotive. By 2022 that rate is projected to increase to 85 percent, a figure that will be reached through “repatriation” of models that had been built elsewhere or by other automakers under contract or through joint ventures, Cox said.

Among the models that are expected to help fill PSA factories in Europe are the Opel/Vauxhall Mokka X, a strong-selling small SUV with an average annual volume of about 150,000. The Mokka X had largely been produced at GM’s factory in Bupyeong, South Korea. The next Mokka will have a PSA architecture and will likely be built in Poissy, France.

Production of Opel’s revamped light commercial van lineup, including the Combo, Vivaro and Movano, is being transferred to PSA factories, with the Combo added to plants in Portugal and Spain; the Vivaro at Luton, England; and the Movano eventually going to Gliwice, Poland. PSA will supply versions of its compact vans to Toyota, deepening the collaboration between the automakers in Europe.

“At first I thought Tavares would have to do drastic surgery on his footprint because he has too many factories that are not making enough cars,” Cox said. Tavares has a plan to boost capacity utilization, “even if he has had to do some trimming” at some plants, including reducing the number of production lines and shifts, he said.

Among the plants that have shown sharp utilization rate increases under Tavares are Rennes, France, which went to 45 percent in 2018 from 25 percent in 2016; Zaragoza, Spain, to 98 percent from 79 percent; and Sochaux, France, to 118 percent from 83 percent.

In fact, four of 14 PSA factories in Europe are operating at 100 percent capacity or higher, including lower-wage sites in Trnava, Slovakia, and Mangualde, Portugal. PSA will start production of the Peugeot 208 at a new factory in Kenitra, Morocco, this year.

Volumes have fallen, however, at former GM plants — Luton and Ellesmere Port in the UK; Opel’s German plants at Ruesselsheim and Eisenach; and at Gliwice.

“Tavares is quite happy to let sales and production fall so that they don’t have these huge inventories that they have to discount or sell at a loss or very low margins,” Cox said.

Tavares has said GM plants were much less efficient than PSA’s, which have been sharpened by internal competition for products.

“Most automakers do it, but PSA takes the internal competition between plants to another level,” said Philippe Houchois of Jefferies. “I’m sure it’s a bit tense — you are only as safe as the life cycle of the product.”