EUR/USD 1.14014
0.220%
Gold 4069.85
0.963%
Oil 67.309
-1.054%
USD/JPY 161.552
-0.633%
GBP/USD 1.33096
0.266%
GBP/JPY 215.024
-0.356%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
China Passenger Car Association: Teslas wholesale sales in China reached 89,091 units in June.July 2nd - Key drivers of strong growth in new energy passenger vehicles: inverted oil prices, supply optimization, and export synergy. 1. High oil prices accelerate consumption structure shift. Affected by the obstruction of navigation in the Strait of Hormuz, domestic retail prices of refined oil products remained high, significantly increasing the cost of using traditional fuel vehicles and directly suppressing consumer willingness to purchase them. Against this backdrop, end-user demand accelerated its shift towards new energy vehicles, providing rigid support for new energy vehicle sales. 2. Optimized production scheduling and capacity release by automakers. Mainstream automakers actively promoted the transformation of fuel vehicles to new energy vehicles, driving the month-on-month increase in wholesale sales in June to over 10%, with a significantly faster response on the supply side. 3. Explosive growth in overseas markets. High international oil prices led to a surge in demand from overseas consumers for low-energy-consumption, high-cost-performance new energy vehicles. Domestic brands, leveraging mature electrification technology and outstanding cost advantages, created a strong substitution effect for fuel vehicles in overseas markets, with exports steadily expanding, further supporting domestic production and sales.French authorities stated that the Russian oil tanker "Tagor," which was previously detained, has paid a fine of 1 million euros.Daly, a 2027 FOMC voting member and president of the Federal Reserve Bank of San Francisco, will participate in a meeting on the Spanish economy in ten minutes.Indian Petroleum Minister: India intends to acquire overseas oil assets.

Panasonic Anticipates A Rise in Global Automobile Production This Fiscal Year

Aria Thomas

Jun 01, 2022 14:49

2.png


Panasonic (OTC:PCRFY) Holdings Corp, which manufactures batteries for Tesla (NASDAQ:TSLA) and other automakers, stated on Wednesday that it anticipates a recovery in global vehicle production this fiscal year, but that the two-year semiconductor shortage will persist.


Masashi Nagayasu, CEO of the Japanese conglomerate's automotive business, which manufactures in-car infotainment systems and other auto components, stated, "We will operate our business in consideration of the risks of fluctuations in vehicle manufacturing."


Nagayasu stated on the first day of Panasonic's annual investor event that the company has no plans to produce automobiles.


Panasonic, whose automotive division accounts for approximately 14 percent of its entire revenue, anticipates a 19 percent increase in sales for the fiscal year ending in March 2023. It anticipates an operational profit increase of roughly 17 percent.


Due to component shortages caused by COVID-19 lockdowns in China and higher commodity prices as a result of Russia's invasion of Ukraine, the company stated last month that it did not anticipate a profit increase for this fiscal year.


(This item corrects the firm name in paragraph 1 to Panasonic Holdings Corp from Panasonic Corp, and the sales growth forecast in paragraph 4 to 19 percent from 10 percent, and the operating profit forecast to nearly 17 percent from 15 percent decline.)


Suggestion