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BCA Closes Its Fiscal Year With 16 New Product SKUs
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By shelitaauto
Source: Gasgoo
link hidden, please login to view According to Bloomberg, South Korean battery manufacturer LG New Energy has called on the European Union to reduce energy costs and develop the EU battery industry amid fierce competition with China’s battery industry.
Image Source: LG New Energy
Due to weak global demand for electric vehicles, LG NEV’s plant near Wroclaw, Poland, has been running at about 50 percent capacity utilization since the beginning of this year.
LG New Energy revealed that at present, Chinese electric vehicle battery and electric vehicle manufacturers are expanding their influence in the European continent, while the European Union is also planning to implement stricter carbon emission regulations. Eu governments should therefore prioritize providing affordable electricity to key growth sectors, such as the manufacturing of electric vehicle batteries.
Yong Girl Lee, head of external relations at LG New Energy, said that if Poland wants to build an advanced battery industry, it needs to provide the industry with affordable electricity.
However, the Polish government prefers to insulate households, rather than industry, from high electricity and gas prices. Poland has one of the highest electricity prices in the European Union because of its reliance on coal-fired power, which also increases carbon emissions.
At present, LG New Energy is adjusting to the weakness of the electric vehicle market. The company plans to start producing more affordable lithium iron phosphate energy storage batteries from 2025 and LFP batteries for cars from 2026. Yong Girl Lee said that the capacity utilization rate of LG New Energy Poland plant will start to rise from the second half of next year, of which car battery production still accounts for the vast majority of the factory’s total output.
In 2023, exports from LG New Energy Polish plant accounted for 3% of Poland’s total exports. The plant will need to use about 1 terawatt hour of electricity per year, which can be purchased either through direct agreements with renewable energy producers or on the market.
LG New Energy Poland wants the Polish government to allow companies operating within its 14 special economic zones preferential access to affordable green energy, especially as electricity usage will grow with the rise of automation and the expansion of data storage.
If Poland cannot guarantee priority access to electricity for battery companies, then EU companies may face many difficulties in competing with Chinese companies. At the same time, the European Union is also working on new battery regulations that are expected to impose stricter carbon emission requirements on battery manufacturers.
“Chinese battery manufacturers are globally competitive, which is why the EU needs to act quickly,” Lee said. The battery industry is very important and strategic, and the Polish government needs to think about how to protect it.”
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By shelitaauto
Source: Gasgoo
link hidden, please login to view Japanese automaker Nissan Motor’s two assembly plants in the southeastern United States have been affected by slowing vehicle sales. Nissan Motor North America expects its U.S. production to decrease by 17 percent in fiscal year 2024 (April 2024 to March 2025). Nissan has already said it will cut its production by 20 percent globally to deal with oversupply and ballooning costs.
Image Source: Nissan
In a planning document sent to auto parts suppliers in November, Nissan projected it would build 503,202 vehicles in Canton, Mississippi, and Smyrna, Tennessee, in fiscal 2024, down from 605,435 in fiscal 2023.
Nissan has informed its auto parts suppliers that its vehicle production for the second half of the fiscal year 2024 (October 2024 to March 2025) will be 12,554 units less than originally planned (i.e. a 4.8% reduction).
Nissan is cutting production of several light trucks, including 6,438 Frontier midsize pickups and 2,010 Rogue compact crossovers. In the first nine months of this year, the two models together accounted for 37% of Nissan’s U.S. sales.
Nissan also plans to reduce production of 2,290 Pathfinder large crossovers and 2,465 Infiniti QX60 midsize crossovers, but plans to increase production of 649 Nissan Altima midsize sedans.
At the same time, Nissan will reduce shifts at some assembly plants from five days a week to four by the end of the year.
Nissan spokesman Brian Brockman said the company adjusted its production forecast in response to a dynamic market to ensure the automaker maintains healthy supply and inventory levels.
Nissan has cut U.S. production several times this year to reduce dealer inventories. U.S. supply of the Nissan brand peaked at 112 days in April, compared with an industry average of 76 days, according to Cox Automotive.
In the first quarter of this year, Nissan reduced its U.S. production by 6%, or about 10,200 vehicles, with the Rogue model accounting for more than 50% of the reduction, and the Pathfinder and Frontier models also affected. In September and October, Nissan cut production of the Rogue and Frontier by as much as 40,000 vehicles.
According to Automotive News Research and Data Center, the Nissan brand has lost more than 25 percent of its market share in the U.S. over the past five years, and its market share has fallen to 5.6 percent in the first nine months of this year. The reduction in Nissan’s vehicle production pushed the profitability of Nissan dealers to its lowest level in nearly 15 years in the first half of this year.
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By AutoZone
MEMPHIS, Tenn. , Nov. 19, 2024 (GLOBE NEWSWIRE) -- AutoZone, Inc. (NYSE: AZO), the leading retailer and distributor of automotive replacement parts and accessories in the Americas , will release results for its first quarter ended Saturday, November 23, 2024 , before market open on Tuesday,
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By Counterman
Auto-Wares announced the hiring of James Bannister as the company’s new director of training. The company said he will lead training efforts and focus on empowering employees and customers through comprehensive learning and development programs. Auto-Wares added Bannister’s role is essential in ensuring its teams across stores, warehouses, and corporate functions have the skills, knowledge, and tools needed to meet Auto-Wares’ strategic goals.
According to the company, Bannister brings over 20 years of experience in leadership and process optimization. His career spans roles in operations and training.
link hidden, please login to view added that he’s known for crafting innovative training programs that drive growth and develop teams across industries, including Fortune 500 companies. After starting his career as a technician and achieving ASE Master Certification, Bannister has also worked as a technical product specialist, shop foreman and operations manager.
link hidden, please login to view emphasized he has consistently demonstrated his ability to lead, mentor and develop impactful training programs, backed by his Automotive Technology degree from Lincoln Technical Institute. The post
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