APTIV PLC ANALYSIS

Opis

Why is the stock down here? EV Adoption Concerns After a period of accelerating EV penetration through 2022, the adoption curve has plateaued Concerns around the consumer’s appetite for BEVs and hybrids due to the EV price premium when compared to ICE vehicle alternatives Election of President Trump and the end of the $7,500 EV rebate, which will potentially lead to a drop off in EV demand as seen in other countries that pulled EV subsidies Mix shift to local OEMs away from Multinational OEMs in the Chinese market Chinese nationalism and advancement of Chinese EVs at lower prices has driven Chinese consumer demand to favor local Chinese OEMs over foreign multinational (FMN) OEMs. This headwind is not unique to APTV Currently, APTV’s customer mix in China is ~55% local OEMs and ~45% FMN (FMN mix was closer to 80% 3-4 years ago). This is slightly under-indexed vs the ~65% market share local OEMs have in China From a bookings standpoint for APTV, 60% - 70% of the backlog is with local Chinese OEMs, which means the local Chinese OEM mix will continue to improve going forwards. APTV is actively working with five top Chinese OEMs who are looking to set up production outside…

Opis sa Zenodo, skraćen.

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