AutoForecast cuts NorthAm auto rates for 2022
North American automotive production should come in at 2pc lower than previously expected, mirroring other regions, according to consultancy AutoForecast Solutions.
Regional production estimates have fallen by 330,000 vehicles to 14.82mn units in 2022 from estimates laid out in its March outlook.
In western Europe, AutoForecast Solutions cut production estimates by 500,000 vehicles to 11.16mn, while it expects a cut of eastern European production of 810,000 to 6.26mn vehicles.
It reduced the production outlook for the Asia-Pacific region by 2pc to 46.68mn units.
Last week original equipment manufacturer (OEM) Magna International cut its 2022 forecasts for European auto production by 11pc to 16.4mn vehicles and North American production by 500,000 units to 14.7mn.
Related news posts
Japan’s Daihatsu fully reopens domestic auto operations
Japan’s Daihatsu fully reopens domestic auto operations
Tokyo, 7 May (Argus) — Japanese car manufacturer Daihatsu resumed operations at Kyushu and Osaka on 6 May and 7 May respectively, marking the full reopening of its domestic plants. Daihatsu produces around 400,000 units/yr and 6,000 units/yr at Kyushu in south Japan and Osaka in west Japan respectively, according to a company representative that spoke to Argus. Combined production at these two plants accounts for around half of its total domestic output. It suspended all its operations in December 2023 after it was accused of tampering with safety test results. Daihatsu partially resumed operations in February and March but the Kyushu and Osaka plants remained closed. The company's March output fell by 65.8pc from a year earlier to 30,453 units , although it recovered from 6,692 units and none in February and January respectively. The country's overall industrial production index increased by 3.8pc from the previous month, according to the ministry of trade and industry last week, mostly driven by a production recovery of passenger vehicles. By Yusuke Maekawa Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Brazil unlocks relief spending to flooded state
Brazil unlocks relief spending to flooded state
Sao Paulo, 6 May (Argus) — Brazil's president Luiz Inacio Lula da Silva signed a decree to ease relief spending to Rio Grande do Sul state, which has been hit with historically heavy rainfall and floods. "We are going to do everything in our power to contribute to Rio Grande do Sul's recovery," he said today after signing the decree, adding that was only the first of "a large number of acts" for the state. The decree recognizes the state of emergency in Rio Grande do Sul and allows the federal government to grant funding and tax waivers to the state without having to comply with spending limits. In addition, it makes rules for public authorities to contract services and purchase products more flexible. The decree still needs both senate and congressional approval — which should be hasty, as both the senate and house leaders were present at the decree's signing. It is still not clear how much money it will take to rebuild the state, chief of staff Rui Costa and planning minister Simone Tebet said. But the minister of regional integration Waldez Goez estimated that it will take around R1bn ($200mn) to rebuild the state's highways. Rio Grande do Sul has been hit with heavy rainfall since 29 April. The highest volumes reached the central areas of Rio Grande do Sul, with cities receiving rainfall of 150-500mm (6-20 inches), regional rural agency Emater-RS data show. The monitoring station of Restinga Seca city, in the center of the state, recorded rainfall of about 540mm. Rainfall in Rio Grande do Sul overall surpassed 135mm in most of the state, according to the US National Oceanic and Atmospheric Administration (NOAA). State capital Porto Alegre is expected to receive more rain later this week, according to Rio Grande do Sul-based weather forecaster MetSul. MetSul warned that parts of the Porto Alegre metropolitan area could remain uninhabitable for weeks or months. The floods have left at least 83 dead and 111 missing, according to the state government. An additional 130,000 people have been displaced from their homes. By Lucas Parolin Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
ANP reduz mescla de etanol e biodiesel no RS
ANP reduz mescla de etanol e biodiesel no RS
Sao Paulo, 6 May (Argus) — A Agência Nacional do Petróleo, Gás Natural e Biocombustíveis (ANP) diminuiu, temporariamente, a mistura obrigatória de etanol e biodiesel no Rio Grande do Sul por 30 dias, a partir de 3 de maio, em meio a enchentes catastróficas no estado. O mix de etanol anidro na gasolina caiu dos atuais 27pc para 21pc, enquanto o do biodiesel no diesel S10 está agora em 2pc, queda em relação à porcentagem vigente de 14pc. Também de forma temporária, a agência suspendeu a necessidade de mistura para o diesel S500. A ANP informou que pode revisar os prazos da medida dependendo das condições de abastecimento no estado. As chuvas no Rio Grande do Sul bloquearam rodovias e ferrovias que transportam os biocombustíveis para centros de distribuição, como Esteio e Canoas. O fornecimento de combustíveis fósseis pela ligação dutoviária da refinaria Alberto Pasqualini (Refap) às outras bases de distribuição do entorno não foi comprometido, afirmou a ANP. As enchentes no estado já deixaram pelo menos 83 mortos e 111 desaparecidos, de acordo com o governo local. Mais de 23.000 pessoas tiveram que deixar suas casas e cerca de 330 cidades estão em situação de calamidade pública. Por Laura Guedes Envie comentários e solicite mais informações em feedback@argusmedia.com Copyright © 2024. Argus Media group . Todos os direitos reservados.
Brazil lowers biofuel mix in flooded state
Brazil lowers biofuel mix in flooded state
Sao Paulo, 6 May (Argus) — Brazil's oil regulator ANP temporarily decreased the mandatory mix of ethanol and biodiesel in fuels in Rio Grande do Sul state for 30 days, starting on 3 May, amid floods in the region. The anhydrous ethanol blend on gasoline was lowered to 21pc from the current 27pc, while the mandatory biodiesel mix for 10ppm (S10) diesel is now at 2pc, down from the usual 14pc. The agency also temporarily suspended the blending mandate for diesel with 500ppm of sulfur (S500). ANP said it can revise deadlines depending on supply conditions in the state. Rainfall in Rio Grande do Sul blocked railways and highways where biofuels are transported to retail hubs, such as Esteio and Canoas. Supply of fossil fuels via pipeline from the 201,000 b/d Alberto Pasqualini refinery (Refap), in Canoas, and other retail bases has not been compromised, ANP said. Floods in Rio Grande do Sul have left at least 83 dead and 111 missing, according to the state government. More than 23,000 people have been forced from of their homes amid widespread damage. Over 330 cities are in a situation of public calamity. By Laura Guedes Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Business intelligence reports
Get concise, trustworthy and unbiased analysis of the latest trends and developments in oil and energy markets. These reports are specially created for decision makers who don’t have time to track markets day-by-day, minute-by-minute.
Learn more