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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33 Documents

Title	Issuer/Entity
Rail freight transportation services – Russia: Despite rising risks, largest gondola operators' credit quality should remain solid 12 NOV 2019\|Sector In-Depth\|MOODY'S INVESTORS SERVICE Although growing fleet oversupply amid weaker cargo volumes will weigh on gondola car operators' profitability, the largest firms' credit quality should remain solid through 2020.
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
General Motors Company: UAW contract that preserves flexibility is critical as GM steps-up pursuit of BEV/AV leadership 11 OCT 2019\|Issuer In-Depth\|MOODY'S INVESTORS SERVICE GM plans to lead in profitable production of electric and driverless cars, but needs a UAW contract that gives it enough flexibility to accomplish that while shifting away from gas engines.	General Motors Company
Structured Finance – Europe: Heard from the Market: True Sale International (TSI) Conference, Berlin 2019 07 OCT 2019\|Sector Comment\|MOODY'S INVESTORS SERVICE Topics of discussion include technological shifts in the auto sector, market place lending, carbon transition, blockchain technology and their effects on securitisations.
Auto Parts – North America: Outlook negative as profits to drop nearly 10% this year on automakers' lower production 30 SEP 2019\|Outlook\|MOODY'S INVESTORS SERVICE Our outlook for the N American auto parts industry remains negative with falling vehicle demand, the GM strike, and need to invest in electrification all contributing to our view.
Corporates – North America: GM's lead over Ford may lead to a sustainable advantage 25 SEP 2019\|Sector In-Depth\|MOODY'S INVESTORS SERVICE GM has sustainable competitive advantage over Ford, particularly in North America and China.

Title	Issuer/Entity
Rail freight transportation services – Russia: Despite rising risks, largest gondola operators' credit quality should remain solid 12 NOV 2019\|Sector In-Depth\|MOODY'S INVESTORS SERVICE Although growing fleet oversupply amid weaker cargo volumes will weigh on gondola car operators' profitability, the largest firms' credit quality should remain solid through 2020.
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
General Motors Company: UAW contract that preserves flexibility is critical as GM steps-up pursuit of BEV/AV leadership 11 OCT 2019\|Issuer In-Depth\|MOODY'S INVESTORS SERVICE GM plans to lead in profitable production of electric and driverless cars, but needs a UAW contract that gives it enough flexibility to accomplish that while shifting away from gas engines.	General Motors Company
Structured Finance – Europe: Heard from the Market: True Sale International (TSI) Conference, Berlin 2019 07 OCT 2019\|Sector Comment\|MOODY'S INVESTORS SERVICE Topics of discussion include technological shifts in the auto sector, market place lending, carbon transition, blockchain technology and their effects on securitisations.
Auto Parts – North America: Outlook negative as profits to drop nearly 10% this year on automakers' lower production 30 SEP 2019\|Outlook\|MOODY'S INVESTORS SERVICE Our outlook for the N American auto parts industry remains negative with falling vehicle demand, the GM strike, and need to invest in electrification all contributing to our view.
Corporates – North America: GM's lead over Ford may lead to a sustainable advantage 25 SEP 2019\|Sector In-Depth\|MOODY'S INVESTORS SERVICE GM has sustainable competitive advantage over Ford, particularly in North America and China.