chipshortage
Sales of Ford Motor Company (NYSE:F) in April plunged by 10.5% from the same month last year as losses tail off. For more than a year, the automaker and the whole car manufacturing industry have been grappling with chip shortages and supply chain constraints. Ford’s Sales PlungeAs reported by CNBC, the semiconductor crisis has affected Ford’s monthly sales in the U.S. by 20% in February and March. Q1 2022 hedge fund letters, conferences and more Andrew Frick, Ford vice president of sales, distribution, and trucks, said in a statement: “While industry semiconductor chip shortages persist, impro...
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January deliveries of Xpeng Inc (NYSE:XPEV), the electric vehicle manufacturer from China, grew by 115% year-on-year. This represents 12,922 units for the month and a 19% drop from December figures. Q4 2021 hedge fund letters, conferences and more Xpeng SuccessAs reported by CNBC, Chinese EV manufacturer Xpeng had a stellar year in terms of delivery output as it hit 12,922 in January, a 115% increase from the same month last year. It is the fifth straight month that the company has delivered more than 10,000 vehicles in a single month. “As of Jan. 31, Xpeng said cumulative deliveries of its el...
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Tesla Inc (NASDAQ:TSLA) reported second quarter revenue of $12.0bn, ahead of market expectations for $11.3bn, and up 98% year-on-year. That reflects a 148% increase in Model 3/Y deliveries, more than offsetting a decline in Model S/X deliveries due to product updates. Average sales prices fell 2% year-on-year, reflecting higher sales of lower priced cars in China. Q2 2021 hedge fund letters, conferences and more Tesla's Q2 EarningsTotal revenue included $10.2bn in Automotive revenues, up 97% year-on-year despite a 17% fall in automotive credits, which came in at $354m. Automotive gross margin ...
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According to industry experts, the global chip shortage that has hit the automotive sector so hard could spread into 2022 and affect smartphone manufacturing next. The underlying effect could be a lower supply for a wider variety of appliances and industrial equipment. Q2 2021 hedge fund letters, conferences and more Smartphone Chips to Be ScarceIris Pang, ING Greater China chief economist, told Reuters that the car manufacturing industry could see an improvement in chips’ supply, “with China taking up some production demand that Taiwan could not meet.” Semiconductor companies in Taiwan have i...
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Ford Motor Company (NYSE:F) announced the closure of several plants in the U.S. for a few weeks in July and August, due to the global semiconductor shortage. The supply crisis would cost the company $ 2.5 billion this year and would slash its assembly capacity by half in the second quarter. Q1 2021 hedge fund letters, conferences and more The temporary shutdown is also seen by experts as a sign of a slow recovery within the automotive industry. Ford To Close A Total Of 8 PlantsFord announced that its Chicago assembly plant, where Explorer SUV models are made, will be closed from the week of Ju...
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I hope you’re not renting a car anytime soon. Tourists flocking to sunny spots like Hawaii and Florida are having a difficult time. The average car rental on the island of used to cost $50 a day. Now a basic Toyota Camry in Hawaii will set you back around $400 a day. Some desperate travelers are even turning to U-Haul vans because rental car lots are empty. Q1 2021 hedge fund letters, conferences and more When COVID hit, car rental giants Avis and Hertz held fire sales. In fact, they dumped over half a million cars last year. Now, they can’t buy new cars. If you’ve been following along, you kn...
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Taiwan Semiconductor Mfg. Co. Ltd. (NYSE:TSM) announced plans to invest $100 billion in advanced chips over the next three years to combat the chip shortage. For comparison, the Asian tech giant only planned to spend $25 billion to $28 billion on advanced chips this year. TSMC spent $17 billion on manufacturing advanced chips last year. Q4 2020 hedge fund letters, conferences and more TSMC battles chip shortageTSMC's statement comes just days after Intel Corporation (NASDAQ:INTC) announced plans to invest $20 billion in expanding its capacity for making advanced chips. TSMC is the largest cont...
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