Auto
- BYD, a Chinese company, reduces the initial price of its Seal EV as it aims to further solidify its position as a market leader.
- Daimler Truck surpasses first-quarter expectations and maintains its full-year outlook, despite the challenges posed by uncertain supply chains.
- General Motors (GM) and Volkswagen (VW) face the risk of idle production capacity in China if the transition to electric vehicles (EVs) is not accelerated.
- Allianz issues a warning that European automakers could experience a loss of up to €7 billion in profit if policymakers fail to take action to limit China’s penetration of the EV market in Europe.
- China-manufactured EVs significantly increase their market share in Germany during the first quarter, tripling their presence.
- Nikola EV Trucks reports a larger-than-expected loss in the first quarter and decides to halt production temporarily.
- According to TrendForce, prices for battery-grade lithium show signs of stabilizing at the end of April.
- Lucid experiences weaker results in the first quarter and adjusts its 2023 production forecast accordingly.
- Polestar trims its production forecasts for 2023 and plans to reduce its workforce by 10%.
- Rivian achieves better-than-expected results in the first quarter and maintains its production forecast for 2023.
- Tesla’s production in China declines by 15% month-over-month in April, but the company experiences a surge in exports.
- Tesla recalls all vehicles sold in China since January 2019 due to faulty regenerative brakes.
- Tesla raises the prices of its Model S, Model X, and Model Y vehicles in the United States by 1% this week.
- New auto sales to large fleets in the United States see a significant 39% year-over-year increase in April, while retail sales rise by 6% year-over-year.
- The inventory levels of new automobiles in the United States remain relatively unchanged month-over-month in April, with a slight decrease in days supply.
- Cox reports that new auto transaction prices declined in April as automakers offered their highest incentives in a year.
Aerospace/Defense
- In June, Turkish Airlines intends to place an order for 600 aircraft, which will be delivered over the course of the next 10 years.
Semiconductors
- In April, ASE experienced a 5% month-over-month decline in revenue, with second-quarter expectations remaining flat year-over-year due to slower demand.
- GlobalFoundries provided a cautious outlook for the second quarter, citing a 30% year-over-year decrease in smartphone demand during the first quarter.
- Intel has decided to reduce its Data Center and Client budget by 10% and is planning a 20% workforce layoff.
- Infineon and Foxconn have announced a Memorandum of Understanding (MoU) to collaborate on the development of Electric Vehicle (EV) SiC devices.
- SMIC anticipates an increase in capacity and revenue in the second quarter, although uncertainties persist for the second half of the year.
- Qualcomm has acquired Israeli Autotalks as part of its expansion strategy.
- MediaTek’s April revenue declined by 34% month-over-month. • Nvidia has placed an additional order of 10,000 wafers with TSMC for AI chips.
- Nuvoton has issued a warning regarding limited data center visibility and a slower market recovery.
- TSMC is planning to raise prices for specific process nodes in the second half of 2023.
- TSMC experienced a 2% month-over-month increase in revenue in April.
- SUMCO, a silicon wafer supplier, expects a 35% decline in second-quarter profit due to slower demand.
Consumer
- Google unveiled its lineup of foldable phones, with prices starting at $1,799.
Distribution
- Farnell and Grayhill have entered into a distribution agreement to strengthen their collaboration.
- Inventec experienced a 22% month-over-month decline in April revenue, with PC shipments down by 200,000 units compared to the previous month.
- Quanta reported a 16% month-over-month decline in April revenue but anticipates an increase in PC shipments quarter-over-quarter during the second quarter.
- Foxconn expects a decrease in revenue quarter-over-quarter in the second quarter and projects flat revenue for the year 2023.
