Toronto, Ontario — For this edition of Tuesday Ticker, we’re bringing you a synopsis from AutoForecast Solutions (AFS).
With the U.S. election in the rearview mirror, the automotive industry can shift its focus to the road ahead. According to AFS’s latest report, political clarity often paves the way for renewed investments, allowing companies to recalibrate strategies with more confidence.
The report delves into what a second Trump administration could mean for the automotive sector over the next four years. While daily headlines offer snapshots of change, AFS analysts provide a deeper look at how these shifts may affect stakeholders—from parts suppliers and vehicle manufacturers to dealerships and financiers.
In the electric vehicle sector, AFS’s resident EV expert, Conrad Layson, highlights the ongoing struggles of the global battery industry. Despite increased demand, many suppliers are unable to scale production quickly enough to meet market needs. Meanwhile, Chinese automakers and battery manufacturers are accelerating their growth, supported by significant government backing. However, their ambitions to expand globally are sparking concerns in other regions about the impact on domestic industries.
Closer to home, Stellantis continues to navigate turbulent waters in its North American operations. The automaker recently announced a 22% cut to its 2024 production target, slashing planned output from 1.82 million units to around 1.4 million. Plants in Detroit and Toledo have been hit particularly hard, with more than 40% of production reduced. Thousands of workers have been affected, and further layoffs are on the horizon. The Jeep Gladiator’s Toledo Supplier Park, for instance, will see 1,100 employees—about 25% of its workforce—laid off indefinitely in January 2025.
Across the Atlantic, Stellantis is consolidating its U.K. operations. The closure of its Luton plant will put 1,100 jobs at risk, leaving the Ellesmere Port facility as the sole U.K. site producing electric commercial vehicles.
For more insights and detailed analysis, visit AutoForecast Solutions’ website http:/www.autoforecastsolutions.com
