Global LV sales to be weighed down by lingering chip supply issues - Morningstar

Nu Ride

10/03/2023 12:11

** Morningstar analysts forecast 2023 global light vehicle
demand to be within a range of down 1% to up 3% as chip shortage
restricts production and vehicle availability 
    ** U.S. automotive market will be up about 4%-8% as
customers keep shifting more of the fleet to light trucks while
battling high vehicle prices and rising interest rates
    ** Brokerage expects chip supply issues to continue through
the year, resulting in constrained  production and inventory
    ** EV makers Rivian Automotive Inc  RIVN.O  and Lucid Group
Inc  LCID.O  have announced annual production targets lower than
analysts' expectations, citing supply chain issues persisting
through the year
    ** EV stocks LCID and Tesla Inc  TSLA.O  are up ~17% and
~40% respectively, however, RIVN, Fisker Inc  FSR.N  and
Lordstown Motors Corp  RIDE.O  have lost between ~10% and ~26%
so far this year, up to Thursday's close
    ** Up to last close, automakers Ford Motor Co  F.N , General
Motors Co  GM.N  and U.S.-listed shares of Stellantis NV
 STLA.N  have gained between ~12% and ~27% so far this year

 (Reporting by Akash Sriram in Bengaluru)
 ((Akash.Sriram@thomsonreuters.com; https://twitter.com/hoodieonveshti;))