Standard Profil - comment

Headlines this morning show European new car sales lowest since 1996 but this should not come as a surprise. The manufacturers had repeatedly highlighted supply chain issues in H1 due to the Ukraine war coupled with ongoing chip shortages. This fall is widely anticipated and Global Light Vehicle production expectations had already been reduced by 8m vehicles. The bigger issue is the forward expectation and although there is significant pent-up demand, can this be sustained with a recession looming?

Specifically for Standard Profil, the transition to electric cars is equally as important, given the increasing portion of order book (ahead of the market) that is BEV related. Prior to Standard Profil’s Q2 numbers at the end of August, we will hear from the OEMs and specifically their guidance for H2.