Automotive
Speaking at the Smithers Traction Summit, Nick Santero highlighted the important role that tires play in helping to ensure not only sustainability, but performance and reputation.
Vehicle miles traveled per capita increased 12% in May 2024, compared with pre-COVID levels.
The electric vehicle volume bust has changed the way parts manufacturers negotiate with auto makers, in some cases making for more flexible supply contracts.
Suppliers said auto makers' rapidly shifting electrification plans will weigh on their future earnings as they make fewer parts for electric vehicles than they were banking on.
Industry executives and lobbyists called for more certainty and less drastic shifts in EV policies and regulations between administrations ahead of the Nov. 5 presidential election.
International auto makers produced more light vehicles in the U.S. than the Detroit 3 for the first time in 2023, according to Autos Drive America and the American International Automobile Dealers Association.
Automotive supplier ElringKlinger A.G. is investing $40.3 million to establish operations in Easley, S.C., to create a U.S. battery development and manufacturing center.
A McKinsey & Co. survey ranks inadequate charging infrastructure as the top concern among EV owners, many of whom say they will go back to ICE vehicles.
The market for battery-electric vehicles has cooled after red-hot growth last year. Tesla is in the red, Ford and Hyundai are surging, Rivian is flat and big names such as Toyota are barely on the EV map.
Auto parts makers are urging the industry to come up with standardized reporting metrics to help make decarbonizing supply chains easier.