EV manufacturing jumps in UK, total manufacturing sinks to 65-year low

A Nissan Leaf on the forecourt of a dealership in Lincoln, UK

Chris Ratcliffe | Bloomberg | Getty Images

Car production in the UK slumped by 6.7% to just 859,575 units in 2021, new figures published by the Society of Motor Manufacturers and Traders show.

In a statement Thursday, the SMMT said the output represented the “worst total since 1956” and was 34% lower than 2019, the year before the Covid-19 pandemic struck.

While the headline figures for 2021 are disappointing — the SMMT pinpointed the semiconductor shortage as being the “principal cause of the decline” — the low and zero-emission segment of the sector provided some light amid the gloom.

The SMMT said that British factories manufactured a record amount of battery electric, hybrid electric and plug-in hybrid vehicles in 2021, with a total of 224,011 being made. This represents a 26.1% share of all cars produced last year.

“More positively, the shift to electrified vehicle manufacture continued apace as BEV production surged 72.0%,” the SMMT said, “while hybrids rose 16.4%, as the UK industry — like the market — transforms into a low and, ultimately, zero- carbon industry.”

Read more about electric vehicles from CNBC Pro

The UK wants to stop the sale of new diesel and gasoline cars and vans by 2030. It will require, from 2035, all new cars and vans to have zero tailpipe emissions. The task is huge and the sector is still dominated by vehicles running on fossil fuels.

Although the market has been significantly affected by the pandemic, customers’ habits could nevertheless be on the verge of a significant change.

A record 190,727 new battery electric cars were registered in the UK last year, according to the SMMT, with Tesla’s Model 3 the best-selling battery electric model. Indeed, the Model 3 was the second most popular new car overall behind the Vauxhall Corsa, the industry body says.

In a release earlier this month, the SMMT described 2021 as the “most successful year in history for electric vehicle uptake.” It said that more new battery electric vehicles had been registered in 2021 than over the five previous years combined.

Tesla TSLA This autumn 2021 car supply and manufacturing numbers

Visitors looking at a China-made Tesla Model Y electric vehicle at Auto Shanghai 2021 in Shanghai, China on April 27, 2021.

Qilai Shen | Bloomberg | Getty Images

Tesla am Sonntag said it delivered 308,600 electric vehicles in the fourth quarter of 2021, beating the previous record for a single quarter and analyst expectations. The automaker produced a total of 305,840 fully electric vehicles in the same period.

For the whole year, Tesla has delivered 936,172 vehicles, an 87% increase over 2020 when the company posted its first annual profit on deliveries of 499,647.

In the third quarter of 2021, vehicle deliveries reached 241,300, Tesla’s best quarter to date.

According to a consensus created by FactSet, Wall Street analysts had expected 267,000 Tesla deliveries in the fourth quarter and 897,000 for the whole of 2021.

The deliveries are closest to the sales reported by the CEO Elon Musks Electric car company.

Tesla summarizes the delivery figures of the higher-priced vehicles Model S and X as well as the cheaper vehicles Model 3 and Y. The company does not break down sales or production numbers by region.

Deliveries of the flagship Model S sedan and the Falcon Wing SUV Model X accounted for almost 3% of Tesla’s total deliveries in 2021. Model 3 and Model Y deliveries totaled 296,850 in the last quarter of 2021 and 911,208 for the full year.

Tesla manufactures Model 3 and Y vehicles at its Shanghai and Fremont, Calif., Facility, but only manufactures the X and Y models in Fremont.

Shake off bottlenecks

At Tesla’s annual shareholder in 2021 meeting, Musk lamented a year of supply chain problems that made it difficult to source enough microchips and other unspecified parts.

During the second year of a global coronavirus pandemic, Tesla increased vehicle deliveries by ramping up production at its first overseas factory in Shanghai and making engineering changes to the cars it produced in Fremont, California, some parts together.

Specifically, Tesla announced in May that it Remove radar sensors of Model 3 and Model Y vehicles built for customers in North America. These cars now rely on a camera-based system to enable Tesla’s driver assistance functions such as traffic-dependent cruise control or automatic lane keeping.

looking ahead

Musk has announced plans to increase Tesla’s vehicle sales to 20 million annually over the next nine years. To achieve that growth, Tesla is poised to begin production of the Model Y crossover at its new Austin, Texas factory this year. The aim is to open another factory in Brandenburg, Germany, afterwards.

The company recently relocated its headquarters to Texas. The CEO announced the plan in October, and Tesla made it official in early December.

Last month, Musk wrote on Twitter, with approximately 68.4 million followers, “Giga Texas is an investment of more than $ 10 billion over time that will create at least 20,000 direct and 100,000 indirect jobs.” According to public filings, Tesla plans to spend $ 1.6 billion on the Austin, Texas factory, which is now in phase one.

Despite advances and ambitions in Texas, Tesla has postponed plans to start mass production of its Cybertruck, a distinctly angular pickup truck, until 2023. The company’s semi and redesigned roadster are also still in the works.

Industry outlook

The company now dominates battery electric vehicle sales in the United States and much of the world. However, it is expected to lose market share overall as competitors launch their own all-electric models.

For example, Toyota told investors it will be Invest 35 billion dollars To bring 30 battery electric vehicles to market by 2030. Rivian recently started deliveries his battery-electric pick-up and SUV. and ford no more reservations for his F-150 flash Electric pickup after 200,000 orders.

Tesla sales are still expected to grow with overall demand for electric vehicles, which is in part driven by climate regulation.

Hoping to reduce air pollution from traffic, including states California and new York, are following in the footsteps of several European countries and cities by setting a date by which the sale of most gas-powered vehicles will be banned.

By 2030, Alix Partners predicts that around 24% of new vehicles sold worldwide will be fully electric.

– CNBC’s Jessica Bursztynsky and Jordan Novet contributed to the coverage.

Shares of EV start-up Lucid soar on new reservations, 2022 manufacturing

Electric vehicle startup Lucid announced on September 28, 2021 that it had started producing its first cars for customers at its facility in Casa Grande, Arizona.

Clear

Shares in Clear group rose more than 5% during after-hours trading before even pulling back to around after the first quarterly results were released as a publicly traded company.

The electric vehicle startup announced a sharp spike in vehicle reservations and confirmed its production target for next year, while reporting a net loss of $ 524.4 million in the third quarter.

Lucid, which went public in July via a SPAC deal, reported that it lost $ 1.5 billion in the first nine months of the year.

The company announced Monday that it had more than 17,000 reservations for its Air sedan, up from 13,000 in the third quarter. Reservations through September represented a backlog of $ 1.3 billion, the company said.

Lucid also confirmed its production target of 20,000 vehicles for the next year, but said there are still hurdles to reaching those plans.

“We remain confident of reaching 20,000 units in 2022,” said Lucid CEO Peter Rawlinson in a press release. “Given the ongoing challenges for the automotive industry with global disruptions in supply chains and logistics, this goal is not without risk.”

Rawlinson said the automaker is taking steps to ease the hurdles in the supply chain and continues to plan to bring lower-cost versions of Lucid Air to market by 2022.

The automaker’s third-quarter revenue was $ 232,000, mostly from a battery deal with the Formula E electric racing league, Lucid CFO Sherry House told Wall Street analysts on Monday during a call. She said the company will begin collecting vehicle sales revenue and reporting details of the sales in the fourth quarter.

Shares closed at $ 44.88 per share, up 2.2%. The stock price remained below its 52-week high of nearly $ 65 per share in February when it was reported that Lucid was close to a deal with blank check firm Churchill Capital IV Corp. stood to go public.

Read more about electric vehicles from CNBC Pro

Lucid’s shares are up more than 80% since the company’s IPO through a reverse merger with Churchill in July. The largest daily increase of 31% came late last month when the company confirmed customer deliveries the Lucid Air Dream Edition were at the beginning.

“I feel great about our stock price,” House told CNBC during a telephone interview. “The start we had, where it is today, and also the growth path that, frankly, lies ahead of us. I see that we are seen as a technology company with a platform that can be expanded across many vehicle variants “and sustainable technology.”

Rawlinson repeated these remarks: “I think what happens in our stock value reflects our status as a technology company more than an automotive company.”

The fully electric Air sedan was named Car of the Year by MotorTrend on Monday, a coveted award in the automotive industry. It is the first time that a new automotive company’s first product has received the award, the publication said.

In total, Lucid has announced that it will deliver 520 customer-configured ones Lucid Air Dream Editions, followed by the production of cheaper models. Lucid announced to investors in July that according to an investor presentation, 20,000 Lucid Air sedans will be produced in 2022, with sales of more than $ 2.2 billion.

The Dream Edition is a special edition of their flagship sedan for $ 169,000 with an industry-leading range of up to 520 miles, according to the EPA. Prices for an entry-level version of the car, the Lucid Air sedan, start at $ 77,400 before a federal tax credit of up to $ 7,500 for plug-in vehicles.

Lucid is one of a handful of EV startups that went public through deals with SPAC companies since last year. But unlike many of his SPAC colleagues, Lucid actually generates revenue and produces vehicles. Also, unlike others, it has so far avoided any federal investigation into potentially misleading statements made to investors, such as: Nikola, Lordstown Motors and canoe.

Used automotive costs to remain excessive till automakers repair manufacturing points

If you’re waiting for used car prices to fall, check out the latest advisories on how a sign that prices have already started fallingsays one of the largest used car salesmen in the United States not to be too excited.

The rise in used car prices is unlikely to slow until manufacturers can start producing cars at pre-pandemic prices, according to the CEO of Carvana.

“[Used car sales] The volume is pretty much in line with 2019, it hasn’t changed that much – the main difference is that so much fewer new cars are being made and that is driving prices up. “Ernie Garcia, CEO of Carvana, said on CNBCs”Squawk box“on Friday.” I think up the supply chains on [original equipment manufacturers] Find out that it is likely to have a lasting effect. “

Automakers have struggled to maintain production in the face of the shortage of semiconductor chips.

fordthat had to cut his North American vehicle production in July and August due to shortages, the earnings report for the second quarter said that the supply was improved but that it lost production of about 700,000 vehicles during the quarter.

General Motors said the chip shortage will reduce its revenue by $ 1.5 billion to $ 2 billion and has been idle some of its North American assembly plants due to scarcity.

Nissan said in May it probably half a million fewer vehicles this year while BMW recently warned that the shortage will creep in by 2021.

The chip shortage will cost automakers an estimated $ 110 billion in lost sales this year, according to a May report by consultancy AlixPartners.

Used car companies see sales increase

Customers inspect a Fiat Chrysler Automobiles NC Dodge Grand Caravan minivan at a Carvana Co. location in Westminster, California, United States on Thursday, May 28, 2020.

Patrick T. Fallon | Bloomberg | Getty Images

The drop in production was a boon for used car dealers like Carvana. The company reported its first profitable quarter on Friday, posting net income of 45 million a year ago in the second quarter of 2021, and for the first time in its eight-year history, it sold over 100,000 cars in a quarter. Carvana stock is up 44% this year through Friday.

These gains have been accompanied by a large increase in used car prices. The average transaction price for a used car was $ 25,410 in the second quarter of 2021, down from $ 22,977 in the first quarter and 21% year over year. according to dates from the online automotive resource Edmunds. That number marks the highest average price over a quarter for a used car that Edmunds has ever tracked.

Debate over when used car prices level off

These high prices have helped boost the used car industry.

EchoPark Automotive, a division of Sonic Automotive that sells used vehicles set a record quarterly earnings of $ 595.6 million, up 88.9% year over year. Retail sales grew 68.9% year over year.

CarMax, the largest used car dealer in the U.S., recorded in the first fiscal quarter of 2022, which ended on 31. The company said it sold 452,188 units through its retail and wholesale channels during the quarter, up 128% year over year.

Regarding when prices might level off, Garcia said, “In the next six months, or even 12 months, I think it’s hard to say.”

“What we are finding is that OEMs supply chains are perhaps a little more fragile than we all would like, and that thousands of parts are being made around the world and waves of covid popping up in different parts of the world I think that makes it really difficult predict when that will return to normal, “he said.

By comparison, Jeff Dyke, President of Sonic Automotive, recently said on CNBC’s “Worldwide exchange“that he expects the chip shortage to ease in the coming months, what start lowering the price of used cars.

“The new car stocks will get better and better in the next few months towards the end of the year,” said Dyke. “This will reduce the number of inventory problems on the used side.”

Revolution Leisure Providers Pronounces New Manufacturing Budgeting Platform, TrueBudget

THE ANGEL–() – Revolution Entertainment Services (“Revolution”) today announced TrueBudget, a new platform for production budgeting. TrueBudget is an easy-to-use budgeting and updating platform specially designed for short-form productions. Commercials, promos, music videos and offers producers a new way to increase the productivity of entire teams.

“TrueBudget will be a game changer for the commercial industry,” said Charlie Steiner, Revolution chief executive officer. “The current budgeting programs are out of date and have not kept pace with market demands. We look forward to changing this narrative. ”

TrueBudget features and benefits include:

  • Budget – Create a budget for your project in the industry standard AICP format

  • Update – Easily track production costs with simple logs

  • Design – Create your order template according to your wishes.

TrueBudget is now available. For more information on TrueBudget, see truebudget.io.

Revolution Entertainment Services is an entertainment production management and payroll services provider offering the ProTools software suite, which includes an end-to-end Digital Start and HTG payroll platform, production accounting, production calendar, budgeting and data analysis. With fantastic in-house resources to count on with your manufacturing incentives, labor and union contracts, Affordable Care Act, Residuals, and Entertainment Payroll, our office locations support U.S. manufacturing centers: Burbank, New Mexico, Georgia, Louisiana, New York, as and Canada.

International Media and Leisure (M&E) Video Transcoding Market Report 2021: COVID-19 Pandemic has Compelled a Shift to Cloud-based Video Workflows for Distant Manufacturing and Distribution

DUBLIN, 06/11/2021 – (BUSINESS WIRE)–The “The COVID-19 pandemic has forced a switch to cloud-based video workflows for remote production and distribution” Report was added to ResearchAndMarkets.com to offer.

This study analyzes the global media and entertainment (M&E) video transcoding market (the base year is 2020).

Video transcoders are used to convert content from a single input source to a variety of output formats, definitions, resolutions, and file or live formats. This enables video to be delivered to various networked and portable devices.

Video transcoding also refers to the process of converting uncompressed or compressed content to another compressed format or significantly reusing the content, typically in the context of a digital media workflow. M&E video transcoders are sold through direct sales as well as value-added resellers and system integrators.

For the purposes of this study, the editor has identified two main segments of video transcoding – production and multiscreen / video on demand (VoD). Video transcoding customers assigned to the production segment use video transcoding in post production and archiving applications, and the main customers are post production studios.

The Multiscreen / VoD segment comprises pay-TV operators, over-the-top (OTT) service providers, broadcasters and pure internet video services. Typically, multiscreen / VoD transcoding involves creating optimized video streams for unicast or multicast distribution of video to primary monitors, attached computers, devices, and second / third monitors. Video transcoding solutions can be found in hardware, software, and software-as-a-service (SaaS) form factors.

As the digital media ecosystem evolves to incorporate more content and video processing technologies across a wide variety of devices, many vendors are upgrading their video transcoding solutions from hardware to software and SaaS to stay agile and cost-effective, although some older hardware solutions persist consistently on top of that Market. The market saw sales decline due to the COVID-19 pandemic and the budgetary problems most content providers were facing due to global security measures such as social distancing and bans.

The story goes on

However, it is expected to recover over the next 2 years as video transcoding will remain a business critical technology in the M&E space. The fate of the marketplace is tied to improvements in workflow and deployment as an increasing number of formats and devices take shape in this mature domain. Due to mergers and acquisitions, the market has seen fierce competition and the entry and exit of providers.

The study also identifies 3 growth opportunities and discusses the trends and sales related to the Multiscreen / VoD and the product segments and breaks down the sales distribution by form factor.

Key topics covered:

1. Strategic imperatives

  • Why is it always harder to grow?

  • The strategic imperative

  • The Impact of Three Top Strategic Imperatives on the M&E Video Transcoding Market

  • Growth opportunities drive the growth pipeline engine

2. Growth Opportunity Analysis, M&E Video Transcoding Market

  • Scope of analysis

  • Market segmentation

  • Main competitors

  • Important growth metrics

  • Distribution channels

  • Growth accelerator

  • Growth restraints

  • Forecast assumptions

  • Sales forecast

  • Price trend analysis

  • Percentage sales by form factor

  • Percentage sales according to workflow

  • Percentage revenue by form factor and workflow analysis

  • Competitive environment

  • Market share of the top participants

  • Market share analysis

3. Growth Opportunity Analysis, Production Video Transcoding Segment

  • Important growth metrics

  • Sales forecast

  • Sales forecast by region

  • Analysis of the sales forecast

  • Market share of the top participants

4. Analysis of growth opportunities, Multiscreen / VoD Transcoding segment

  • Important growth metrics

  • Sales forecast

  • Sales forecast by region

  • Analysis of the sales forecast

  • Market share of the top participants

5. Growth Opportunity Universe, M&E Video Transcoding Market

  • Growth Opportunity 1 – High-Density Transcoding for Streaming Live Events, 2020

  • Growth Opportunity 2 – Powerful Transcoding for AR / VR / 360 Video, 2020

  • Growth Opportunity 3 – Cloud-Based Video Workflows for Remote Production, 2020

For more information on this report, see https://www.researchandmarkets.com/r/x6vdpg

View source version on businesswire.com: https://www.businesswire.com/news/home/20210611005379/en/

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Leisure Trade Basis Launches EIF Careers Program To Diversify Movie & TV Manufacturing Pipeline – Deadline

The Foundation for the entertainment industry launched the EIF career program, an initiative aimed at creating a more diverse talent pipeline for careers in film and television by increasing the number of under-represented candidates in entry-level positions in production. The EIF also plans to add entry-level corporate and administrative roles to the program.

In a relationship with Crew lifeThe program, the digital recruitment platform for entertainment professionals, is funded by the James Irvine Foundation and the Best Buy Foundation and resides on Crewvie’s existing database. It is open to candidates who do not yet have production credits, and studios and networks do not have to charge fees to access candidates’ profiles. The program’s steering committee includes executives from Sony Pictures Entertainment, Disney General Entertainment, NBCUniversal and WarnerMedia.

AFM & SAG-AFTRA intellectual property rights fund distributing a record $ 70 million in royalties

You can see the program’s website Here.

“We are in a unique position to help newcomers build a solid foundation for a long career in the entertainment industry, and we are excited to offer a solution that supports the growing diversity, equity and inclusion in the industry,” said Nicole Sexton, President and CEO of EFI.

The program brings together candidates from underrepresented communities who may not have access to the resources and professional networks to get into the entertainment field and is designed to lay the foundation for their sustainable careers in Hollywood. Candidates are alumni of pathway programs such as the Academy of Motion Picture Arts and Sciences, Gold Rising, Television Academy Foundation, Hollywood CPR, ManifestWorks, and LA Mayor Eric Garcetti’s Evolve Entertainment Fund.

Of the hundreds of these alumni who are already on the platform, more than 80% identify themselves as people of color and more than half as women. The program is currently piloted in the Los Angeles area, but seeks to build partnerships and impacts over the coming years “to bring lasting and meaningful change across the entertainment industry.” The program also offers candidates all-round services, such as: B. Transportation grants and emergency cash grants or grants.

“Our goal is to bring more people into our industry and to help productions build teams that better reflect the communities in which they operate,” said Jeanette Volturno, co-founder of Crewvie.com. “We are very excited to be working with the EIF careers program to leverage our technology and network and open these doors.”

Founded in 1942, the Entertainment Industry Foundation is a nonprofit that develops nonprofit campaigns while promoting support for public and private organizations and philanthropists who advocate social responsibility. On Tuesday, the EIF received a Peabody Award nomination in the Public Service category for its production of Graduate Together, a tribute to the 2020 high school class, featuring LeBron James, President Barack Obama, Zendaya, Alicia Keys, HER, and many others “.

Hasbro income falls quick on weak leisure manufacturing enterprise

FIILE PHOTO: A Monopoly board game from Hasbro Gaming can be seen in this illustrative photo taken on August 13, 2017. REUTERS / Thomas White / Illustration

Hasbro Inc. (HAS.O) Sales estimates for the first quarter were not met on Tuesday as COVID-19 delays weighed on the toy maker’s film and television production business.

The company has focused on entertainment production for the past several years to drive growth faster than traditional toy sales.

In 2019, the company acquired Entertainment One, the company behind Peppa Pig and the television series “The Walking Dead”, to quickly expand its entertainment capabilities. However, production setbacks and the closure of theaters resulted in a 34% drop in sales in the TV and film businesses.

The Monopoly maker’s net sales rose 1% to $ 1.11 billion in the three months to March 28, but fell short of analysts’ estimates of $ 1.17 billion, according to an IBES estimate by Refinitiv.

Hasbro’s net income was $ 116.2 million, or 84 cents per share, compared to a loss of $ 69.7 million, or 51 cents per share, last year.

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SAAC able to solid “Metal Magnolias” for June manufacturing | Native Leisure

An audition has been published for the South Arkansas Arts Center of El Dorado’s production of “Steel Magnolias” by Robert Harling.

A longtime audience favorite, the play explores the relationships of these unique southern women who, over the years, have bonded with good times and bad, tears and laughter, and most importantly, love.

The auditions will take place on Monday, April 26th and Thursday, April 29th.

Registration for auditions starts at 6 p.m. on both evenings. The auditions start at 6.30 p.m.

Callbacks will take place on Saturday May 1st. The director schedules individual times with everyone he needs to see for callbacks. Recalls are not indicative of casting.

Rehearsal begins May 3 with production dates for June 17-20 and June 24-27.

There are roles for 6 women. The ages range from 19 to the early 1970s. Anyone who can see or play the role is welcome to audition. There are no restrictions on ethnic or racial background.

People who want to audition should arrive on time to fill out an audition form and take a photo. Bring your calendar and provide a full list of rehearsal conflicts.

All auditors are asked to read a monologue from the show. The director chose two options for each character. Select one of the monologues and note that you may also be asked to read the second.

Monologues don’t have to be memorized, but auditioners are welcome to do so. The director will perform scene readings during auditions and recall. No preparation is required.

Auditioners are encouraged to read the script before auditioning. Copies can be checked out at the SAAC office for 48 hours.

The story centers on the lives of six women at the fictional Chinquapin, Louisiana beauty shop owned by Truvy Jones and her eager new assistant, Annelle. Her friends and clients include the eccentric millionaire Clairee, the friendly Curmudgeon Ouiser, the social leader M’Lynn, and her daughter Shelby. The piece follows their stories over several years and builds on a framework of love and resilience.

“Steel Magnolias is a remarkable piece – a wonderful combination of comedy and drama (like life itself) – that offers rich and rewarding roles to six talented actresses,” said director Tripp Phillips. “There is a wide range of roles that actresses of all kinds offer great, nuanced, and very funny roles.”

The play challenges two younger women (late teens to late 20s), two middle-aged women (late 40s to late 50s) and two seniors (who must be credible as women by the age of 70).

Ali Bahrynia Tapped As Director of Growth and Manufacturing At QC Leisure – Deadline

QC Entertainment hired Ali Bahrynian as director of development and production. She joins the company this week and will continue to be based in Los Angeles.

Prior to joining QC, Bahrynian was an agent at WME in the film literature department. She was promoted to agent in 2019 and has been passionate about female and diverse filmmakers ever since, advocating fresh and innovative stories in all genres.

QC – stands for Quality Control – is led by founding partners Sean McKittrick, Raymond Mansfield and Edward H. Hamm, Jr. QC Entertainment is known for advocating bold storytellers and fresh stories that appeal to audiences worldwide, both from veteran writers and new voices. The company has signed a multi-year, first-look contract with Paramount Pictures that covers screenwriting feature film projects and allows QC to co-fund projects the company brings to the studio.

“Ali’s extensive network of talent and industry relationships, her keen eye for materials, and her passion for inventive storytelling make her an invaluable addition to the QC team as we advance our upcoming projects,” said Mansfield and McKittrick.