Expansion of Automotive Demand Driven by Vehicle Electrification

「In the automotive-related market, the electrified-vehicle market continued to expand, led by China. China’s new-energy vehicle (NEV) ratio reached a record high, while intense price competition continued across the automotive market as a whole, driving ongoing changes in the demand structure. In the United States, demand for hybrids remained firm, while growth in the battery-electric vehicle (BEV) market slowed.」

「Automotive-related applications account for approximately 60% of the uses of the Group's products. China is driving growth in global automobile sales. The Chinese market has expanded amid intense price competition among manufacturers, particularly in xEVs, but the government is moving to curb excessive price competition and normalize payment terms. With new-energy vehicles accounting for approximately 70% of new-vehicle sales in China, concerns have also been raised about excess production capacity. Automobile sales remained firm in the United States, while sales declined in Europe because of weak consumer sentiment.」

「Against a backdrop of rising global new-vehicle production, sales of xEV-related products and products for other applications remained strong across the Group. However, the Group is closely monitoring the impact of the withdrawal of EV subsidies in Europe and the direction of policy in the US. Revenue from automotive-related business was ¥87,893 million, up 1.2% from the previous consolidated fiscal year.」

「Against a backdrop of rising global new-vehicle production, sales of xEV-related products and products for other applications remained strong across the Group. Revenue from automotive-related business was ¥45,426 million, up 8.3% from the previous year's interim consolidated period.」

「Against a backdrop of rising global new-vehicle production, sales of xEV-related products and products for other applications remained strong across the Group. Revenue from automotive-related business was ¥22,886 million, up 7.6% from the previous year's corresponding consolidated period.」

「In the automotive market, semiconductor supply improved substantially and finished-vehicle production entered a recovery phase worldwide.」

「As new-vehicle production increased following the easing of the worldwide semiconductor shortage and supply-chain disruption, sales for EVs and xEVs also remained strong. Revenue from automotive-related business increased 15.3% from the first half of the previous fiscal year to ¥41,952 million.」

「As the semiconductor shortage and supply-chain disruption eased, global new-vehicle production increased and EV and xEV-related sales also remained strong. Revenue from automotive-related business was ¥21,278 million, up 20.8% year on year.」

「Although global vehicle production remained sluggish as the semiconductor shortage and supply-chain disruption continued, EV and xEV-related sales remained firm, and the yen remained weak in the foreign-exchange market. Revenue from the automotive market was ¥81,031 million, up 29.1% from the previous consolidated fiscal year.」

「Although global vehicle production remained sluggish as the semiconductor shortage and supply-chain disruption continued, EV and xEV-related sales remained firm. Revenue from the automotive market was ¥59,408 million, up 26.7% year on year.」

「Although global vehicle production remained sluggish as the semiconductor shortage and supply-chain disruption continued, EV and xEV-related sales remained firm. Revenue from the automotive market was ¥36,395 million, up 16.5% year on year.」

「Although the semiconductor shortage affected global vehicle production, EV and xEV sales increased as gasoline prices rose, and related business remained firm.」

「Automotive-related business for EVs and xEVs grew substantially.」

「Revenue was affected by sluggish vehicle production due to the semiconductor shortage, although EV and xEV-related business remained firm.」

「The electronic-components industry remained firm, led by the recovery in vehicle production. New-vehicle sales remained solid in China and the US, although signs of slowing were also evident, raising concerns about the outlook.」

「Although the resurgence of COVID-19 left continued uncertainty about the outlook, demand for smartphones and automotive applications continued to expand, while notebook PCs and tablets also remained firm.」

「Global vehicle sales showed signs of recovery from the downturn caused by COVID-19, and demand for electronic components for automotive applications also began to recover.」

「The Chinese government announced that subsidies for new energy vehicles (NEVs), which had been scheduled to end in 2020, would be extended through 2022. Some local governments also introduced support measures, including subsidies for new-vehicle purchases and relaxed restrictions on license-plate issuance, helping sales recover.」

「Although tighter global environmental regulations were driving vehicle electrification, major automakers suspended production to prevent the spread of COVID-19, causing global vehicle production to fall sharply and automotive electronic-component demand to remain sluggish.」

「Orders for xEV applications, particularly HEVs, increased as vehicle electrification rates rose, but demand remained sluggish because new-vehicle sales stagnated in Europe and China, materially affecting performance.」

「Automotive-related demand remained sluggish because global new-vehicle sales continued to stagnate, aside from the broader shift toward vehicle electrification, including automakers' expanded xEV sales in response to European CO2 regulations.」

「Automotive-related demand continued to benefit from tighter environmental regulations, and the EV market in particular gained momentum. However, new-vehicle sales remained weak in Europe, where the new Worldwide Harmonised Light Vehicle Test Procedure (WLTP) affected sales, and in China, where economic slowing and prolonged US-China trade friction affected purchasing sentiment and monthly sales continued to decline by double digits year on year. Signs of an economic slowdown also emerged in the previously relatively firm US market.」

「Although the number of components installed in automotive products increased as global environmental regulations became more stringent and advanced driver-assistance systems (ADAS) gained wider adoption, demand remained sluggish as new-vehicle sales in Europe and China fell below the previous year's levels.」

「Demand for automotive electronic components expanded as automakers worldwide strengthened their efforts relating to xEVs amid increasingly stringent environmental regulations, and overall growth continued at a moderate pace.」

「Demand for automotive-related products expanded as automakers worldwide strengthened their efforts relating to xEVs amid increasingly stringent environmental regulations.」

「As the shift toward EVs gained momentum in Europe and China, vehicle electrification rates increased and the automotive electronic-components market continued to expand.」

「Sales and development of vehicle models with high levels of electrification increased to improve convenience and comfort and expand energy savings. Environmental regulations being introduced progressively in countries around the world also drove demand for electronic components.」

「Although new-vehicle sales in the US and China remained weaker than the previous year, sales in Europe continued to be firm. Installation rates for automotive electronic components increased as automakers expanded safety and comfort features and responded to tighter regulations, including safety and fuel-efficiency standards.」

「In automotive-related products, US and Chinese new-vehicle sales remained weaker than last year, while European sales continued to be firm. As environmental regulations, including phased tightening of emissions regulations, were introduced, development of fuel-efficiency technologies, EVs and PHEVs accelerated, and demand for electronic components continued to grow faster than automobile sales.」

「Although new-vehicle sales in the US and China remained weaker than the previous year, they continued at high levels, while sales in Europe remained firm. Against a backdrop of tighter emissions regulations, development of fuel-efficiency technologies, EVs and PHEVs accelerated, and demand for electronic components continued to grow faster than vehicle sales.」

「In automotive-related products, US new-vehicle sales were below the prior-year level but remained high, while European sales remained firm. Although Chinese sales were expected to decline following changes to small-car tax cuts, unit sales continued to expand. Amid moves to tighten emissions regulations, development of fuel-efficiency technologies, EVs and PHEVs accelerated, generating demand for electronic components that exceeded the growth in automobile sales.」

「Demand for electronic components also increased as emissions regulations were tightened following emissions-cheating scandals and as development accelerated in fuel-efficiency technologies, EVs and PHEVs. This generated demand growth exceeding the increase in automobile unit sales.」

「Meanwhile, demand for electronic components for automobiles expanded as new-vehicle sales remained firm in the United States and Europe, while demand in China recovered on tax cuts for small cars. Vehicle electrification accelerated to improve safety and convenience and address environmental concerns.」

「Meanwhile, demand for electronic components for automobiles expanded as new-vehicle sales remained firm in the United States and Europe, while demand in China recovered on tax cuts for small cars. Vehicle electrification accelerated to improve safety and convenience and address environmental concerns.」