Automotive Sector Transformation

The automotive sector is undergoing a fundamental shift in terms of how cars are made, used and financed. Driven by technology, sustainability and changing consumer preferences, this transformation will have major ramifications for sectors globally.

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37 Documents

Title	Issuer/Entity
Banking – Turkey: Turkey's recent home sales data suggests real estate market recovery, a credit positive for banks 20 JAN 2020\|Sector Comment\|MOODY'S INVESTORS SERVICE Increasing home sales will reduce problem loans and provisions from the real estate sector, but state-owned banks are taking mis-priced unseasoned risk
Banking – Poland: Bank Millennium's and mBank's provisions related to foreign-currency mortgages weaken 2019 profitability 20 JAN 2020\|Sector Comment\|MOODY'S INVESTORS SERVICE Despite the negative effect on profitability, the provisions are relatively low against total exposures to foreign-currency mortgages.
Moody's new requirement for signed local government audits 10 JAN 2020\|Research Announcement\|MOODY'S INVESTORS SERVICE Starting with fiscal year ending December 31, 2019, Moody's will require local governments to provide signed audits.
Banking – Europe: EBA calls on banks for early action in sustainable finance amid long-term regulatory plan rollout 17 DEC 2019\|Sector Comment\|MOODY'S INVESTORS SERVICE EBA action plan on sustainable finance will have a number of credit implication for EU banks, although the long-term plan rollout means that the short-term credit effects will be limited.
Automotive manufacturers and parts suppliers – Global: 2020 outlook negative on continued decline in light vehicle sales (Slides) 16 DEC 2019\|Outlook\|MOODY'S INVESTORS SERVICE Our 2020 outlook for global automotive manufacturers and parts suppliers is negative, driven by our expectations of a continued decline in global light vehicle sales.
ABS - Autos & Vehicles – Germany: Germany's higher subsidies for electric cars is credit negative for ABS pools with combustion engines 08 NOV 2019\|Sector Comment\|MOODY'S INVESTORS SERVICE The measure would be credit negative for Moody's-rated German asset-backed securitizations backed by €30 billion of outstanding vehicle financing.
Structured Finance – Europe: Fiat Chrysler and Peugeot merger will mitigate auto ABS portfolio risks from the transition to electric vehicles 04 NOV 2019\|Sector Comment\|MOODY'S INVESTORS SERVICE The Fiat Chrysler and Peugeot proposed merger is credit positive for auto ABS sponsored by a consolidated captive finance company of the new group.
Automotive manufacturing – Global: Substantial variation exists in automakers' carbon transition risk profiles 04 NOV 2019\|Sector In-Depth\|MOODY'S INVESTORS SERVICE The median score for the 20 leading automakers we examined in this report is CT-6, indicating moderate positioning for carbon transition on our 10-point CTA scoring scale.
Automotive parts suppliers – Europe: Profitability faces further pressure if auto sector mergers reach fruition 31 OCT 2019\|Sector Comment\|MOODY'S INVESTORS SERVICE The proposed merger of Fiat Chrysler Automobiles N.V. and Peugeot S.A. and the planned merger of Hitatchi Ltd. and Honda Motor Co. Ltd.'s auto parts businesses would be credit negative.
General Motors Company: GM-UAW agreement should preserve adequate long-term operating flexibility, moderate near-term losses 17 OCT 2019\|Issuer Comment\|MOODY'S INVESTORS SERVICE GM/UAW contract agreement should forestall the possibility of untenable near-term losses and preserve long-term operating flexibility for the automaker.	General Motors Company

Title	Issuer/Entity
Banking – Turkey: Turkey's recent home sales data suggests real estate market recovery, a credit positive for banks 20 JAN 2020\|Sector Comment\|MOODY'S INVESTORS SERVICE Increasing home sales will reduce problem loans and provisions from the real estate sector, but state-owned banks are taking mis-priced unseasoned risk
Banking – Poland: Bank Millennium's and mBank's provisions related to foreign-currency mortgages weaken 2019 profitability 20 JAN 2020\|Sector Comment\|MOODY'S INVESTORS SERVICE Despite the negative effect on profitability, the provisions are relatively low against total exposures to foreign-currency mortgages.
Moody's new requirement for signed local government audits 10 JAN 2020\|Research Announcement\|MOODY'S INVESTORS SERVICE Starting with fiscal year ending December 31, 2019, Moody's will require local governments to provide signed audits.
Banking – Europe: EBA calls on banks for early action in sustainable finance amid long-term regulatory plan rollout 17 DEC 2019\|Sector Comment\|MOODY'S INVESTORS SERVICE EBA action plan on sustainable finance will have a number of credit implication for EU banks, although the long-term plan rollout means that the short-term credit effects will be limited.
Automotive manufacturers and parts suppliers – Global: 2020 outlook negative on continued decline in light vehicle sales (Slides) 16 DEC 2019\|Outlook\|MOODY'S INVESTORS SERVICE Our 2020 outlook for global automotive manufacturers and parts suppliers is negative, driven by our expectations of a continued decline in global light vehicle sales.
ABS - Autos & Vehicles – Germany: Germany's higher subsidies for electric cars is credit negative for ABS pools with combustion engines 08 NOV 2019\|Sector Comment\|MOODY'S INVESTORS SERVICE The measure would be credit negative for Moody's-rated German asset-backed securitizations backed by €30 billion of outstanding vehicle financing.
Structured Finance – Europe: Fiat Chrysler and Peugeot merger will mitigate auto ABS portfolio risks from the transition to electric vehicles 04 NOV 2019\|Sector Comment\|MOODY'S INVESTORS SERVICE The Fiat Chrysler and Peugeot proposed merger is credit positive for auto ABS sponsored by a consolidated captive finance company of the new group.
Automotive manufacturing – Global: Substantial variation exists in automakers' carbon transition risk profiles 04 NOV 2019\|Sector In-Depth\|MOODY'S INVESTORS SERVICE The median score for the 20 leading automakers we examined in this report is CT-6, indicating moderate positioning for carbon transition on our 10-point CTA scoring scale.
Automotive parts suppliers – Europe: Profitability faces further pressure if auto sector mergers reach fruition 31 OCT 2019\|Sector Comment\|MOODY'S INVESTORS SERVICE The proposed merger of Fiat Chrysler Automobiles N.V. and Peugeot S.A. and the planned merger of Hitatchi Ltd. and Honda Motor Co. Ltd.'s auto parts businesses would be credit negative.
General Motors Company: GM-UAW agreement should preserve adequate long-term operating flexibility, moderate near-term losses 17 OCT 2019\|Issuer Comment\|MOODY'S INVESTORS SERVICE GM/UAW contract agreement should forestall the possibility of untenable near-term losses and preserve long-term operating flexibility for the automaker.	General Motors Company