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Semiconductor shortage, power disruption hit Mexican automotive output
Mexican automotive output fell in February. This was the result of global semiconductor shortages and stoppages made by at least eight plants due to the interruption of the country’s electricity and gas supply chains.
According to the Asociación Mexicana de la Indústria Automotriz (Amia), the sector produced 238,868 vehicles in February, down 28.8% year-on-year.
Of the 12 manufacturers monitored by Amia, Nissan had the largest output of 49,364 units, down 17.2%, while second-largest General Motors produced 41,575 vehicles, 44.2% less y-o-y.
January-February output was thus 22.1% lower on-year at 517,579 units, or 146,214 vehicles less than in January-February 2020. Vehicle exports also fell by 21.8% y-o-y in February. These were 213,987 units compared to 273,634 in the same month in 2020. Year-to-date shipments abroad decreased by 14.6% to 437,520 units.
Two-month shipments to the US market fell by 14.8% to 346,847 vehicles, but still represented a 79.2% share of total Mexican exports, Amia confirms. Sales to the domestic market remained low. These were 21.1% down on-year in February to 82,323 units and 21.8% less y-o-y in January-February at 163,526 units.
Fri, March 26, 2021, 9:10 AM
SHANGHAI, China, March 26, 2021 (GLOBE NEWSWIRE) -- NIO Inc. (“NIO” or the “Company”) (NYSE: NIO), a pioneer in China’s premium smart electric vehicle market, today announces that the Company decides to temporarily suspend the vehicle production activity in the JAC-NIO manufacturing plant in Hefei for five working days starting from March 29, 2021 due to semiconductor shortage.
The overall supply constraint of semiconductors has impacted the Company’s production volume in March 2021. The Company expects to deliver approximately 19,500 vehicles in the first quarter of 2021, adjusted from previously released outlook of 20,000 to 20,500 vehicles.
About NIO Inc.
NIO Inc. is a pioneer in China’s premium smart electric vehicle market. Founded in November 2014, NIO’s mission is to shape a joyful lifestyle. NIO aims to build a community starting with smart electric vehicles to share joy and grow together with users. NIO designs, jointly manufactures, and sells smart premium electric vehicles, driving innovations in next-generation technologies in connectivity, autonomous driving, and artificial intelligence. Redefining the user experience, NIO provides users with comprehensive and convenient power solutions, the Battery as a Service (BaaS), NIO Pilot and NIO Autonomous Driving (NAD), Autonomous Driving as a Service (ADaaS) and other user-centric services. NIO began deliveries of the ES8, a 7-seater flagship premium electric SUV, in China in June 2018, and its variant, the 6-seater ES8, in March 2019. NIO officially launched the ES6, a 5-seater high-performance premium electric SUV, in December 2018 and began deliveries of the ES6 in June 2019. NIO officially launched the EC6, a 5-seater premium electric coupe SUV, in December 2019 and began deliveries of the EC6 in September 2020. On January 9, 2021, NIO ET7, the smart electric flagship sedan and NIO’s first autonomous driving model, was officially launched.
Safe Harbor Statement
This press release contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to” and similar statements. Among other things, quotations from management in this announcement, as well as NIO’s strategic and operational plans, contain forward-looking statements. NIO may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about NIO’s beliefs, plans and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: NIO’s strategies; NIO’s future business development, financial condition and results of operations; NIO’s ability to develop and manufacture a car of sufficient quality and appeal to customers on schedule and on a large scale; its ability to grow manufacturing in collaboration with partners; its ability to provide convenient charging solutions to its customers; the viability, growth potential and prospects of the newly introduced BaaS model; NIO's ability to satisfy the mandated safety standards relating to motor vehicles; its ability to secure supply of raw materials or other components used in its vehicles; its ability to secure sufficient reservations and sales of the ES8, ES6 and EC6; its ability to control costs associated with its operations; its ability to build the NIO brand; general economic and business conditions globally and in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in NIO’s filings with the SEC. All information provided in this press release is as of the date of this press release, and NIO does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
For more information, please visit: http://ir.nio.com
For investor and media inquiries, please contact:
Met leveringen van meer dan 43.000 voertuigen, meer dan het dubbele van het totaal van 2019, was Nio vorig jaar de onbetwiste marktleider op de Chinese EV-markt. Het boekte in het vierde kwartaal een omzetgroei van maar liefst 130% op jaarbasis. 2021 moet opnieuw een sterk jaar worden voor het bedrijf, gezien het feit dat er in januari 352% meer EV's zijn afgeleverd dan in dezelfde maand vorig jaar.
Al met al heeft Nio een sterke merkpositie opgebouwd op de binnenlandse markt, en daarom zullen de aandelen in de nabije toekomst flinke winsten blijven opleveren voor aandeelhouders.