Automotive Monthly Newsletter and Podcast
Auto demand levels remain depressed on chip famine alongside race between vaccine & variants; 2022 Light Vehicle demand set to post 82.4 million (+3.7%)

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Semiconductor shortages and wider supply chain disruptions expected to linger until 2023

IHS Markit forecasts new light vehicle sales of nearly 82.4 million globally in 2022, up 3.7%. IHS Markit projects the industry will finish out 2021 with nearly 79.4 million light vehicles sold, and industry demand levels will continue to be restrained next year as the semiconductor supply chain remains challenged. Tentative demand recovery will continue across most regions, assuming the ongoing availability of effective vaccines and apart from any major impacts from the Omicron variant.

Full year 2021 sales are expected to be up just 2.9% from the levels achieved in 2020. IHS Markit remains cautious on recovery prospects, as the global auto industry grapples with this "perfect storm" of unprecedented circumstances. Depressed vehicle output levels are expected to impact vehicle lead times for some time, pressuring depleted inventories and delaying fulfillment of prevailing order levels.

"The path of the pandemic remains an important driver of the 2022 auto demand cycle, especially the "race" between vaccine and variants. Concerns remain as winter arrives for Northern Hemisphere nations, and the emergence of the Omicron variant represents a worrying development," said Colin Couchman, executive director, global light vehicle forecasting, IHS Markit.

Most regions face limited recovery prospects on supply chain challenges and potential further COVID-19 flare-ups

The European auto industry looks set for a bleak mid-winter as widening virus concerns combine with ongoing supply chain woes, with concerns for German-based production. The 2021 Western and Central European demand forecast foresees 13.9 million units, just scraping into growth territory, up 0.2% y/y. 2022 demand is set at 15.0m units (+7.8%), according to IHS Markit.

"European car consumers are expected to hunker down for a second winter of COVID-19, but the new year might struggle to deliver meaningful improvement to new car sales levels," said Couchman.

Looking at 2022, US sales volumes are expected to reach nearly 15.5 million units, up an estimated 2.6% from the projected 2021 level of approximately 15.1 million units. "For 2022, the pace of sales is expected to quicken in the second half of the year. Given current inventory conditions, it's difficult to project significant demand recovery in the first half of 2022. But we expect to exit 2022 with a pace of sales more recognizable to pre-COVID levels, setting the stage for better volume outlooks into 2023 and 2024," according to Chris Hopson, manager, North American light vehicle sales forecast, IHS Markit.

In Mainland China—for 2021, IHS Markit analysts foresee the market down by 1% y/y, to 23.4 million units, as supply chain shortages choke off market growth. Near-term risks are balanced, and 2022 is currently set at 24.2 million (+3.3% y/y), with more meaningful recovery expected for 2023—back above pre-crisis levels to 26.9 million, up by 11.3% y/y.

Production expected to recover slowly through 2022

Global light vehicle production in 2021 is expected to finish at 75.5 million units, a paltry 1.2% improvement over 2020 levels.

For 2022, IHS Markit forecasts a rebound in light vehicle production of 9.0 percent, to 82.3 million units. The outlook will continue to be characterized by the availability of automotive-grade chips, at least until 2023. The balance of incremental capacity gains within the semiconductor sector, heightened 'chips-per-vehicle' requirements and robust non-automotive chip demand all feature in this assessment.

"Overall, while manufacturing operations in most regions are expected to improve, capacity constraints within the semiconductor supply chain remain the single most influential feature of the forecast. As the semiconductor tide recedes, will this expose further risks to the auto recovery? Threats elsewhere within the supply chain could become more apparent as chip supplies improve, notably, logistics, worker related issues, and key raw materials shortages," said Mark Fulthorpe, executive director of light vehicle production forecasts at IHS Markit.

In Greater China, IHS Markit forecasts modest growth for 2022 of 1.6 percent, to 24.3 million units. Europe is expected to produce 18.5 million units in 2022, up from an estimated 15.7 million this year. For the North American region, momentum is improving heading into 2022, though our outlook based on current forecasts remains at nearly 15.2 million units; this reflects growth of just over 2.2 million units year over year. A more normalized supply chain is forecast to support vehicle output levels of 90.6 million units for 2023, a further 10% y/y increase, and comfortably above pre-pandemic output levels of 2019.

Electrification remains a growing dynamic—2021 has seen an "arms race" of ambition as OEMs declare electrification targets for coming 5-15 years

Recent months have witnessed an unprecedented flurry of OEM announcements on electrification ambitions for the coming 5-15 years. Electric vehicles are fast evolving from a compliance side hustle into fully fledged core offerings for many OEMs. At COP26 earlier this year, policymakers and regulators also shared their visions for a greener future, including the US, the EU and the UK. Transformational change is firmly on the agenda and making sense of this arms race of ambition represents an ongoing challenge.

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Webinar | Supply Chain Crisis - What's Ahead for 2022. Watch Now

Electrical Steel - Temporary supply chain shortage or a threat to OEMs' electrification plans? Read the article

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CoinAgenda (www.coinagenda.com), the premier global conference series connecting blockchain and cryptocurrency investors with startups since 2014, and BitAngels (www.bitangels.network), the leading network of bitcoin and blockchain investors, today announced that special guest Nio Garcia will be performing for all CoinAgenda attendees at SDG Exchange's Exclusive Concert Series. The concert will take place on December 9 at 10 pm at the popular 7eight7 Nightclub, as part of the fifth annual CoinAgenda Caribbean event in San Juan, Puerto Rico. Tickets and the full agenda are available on the event page. CoinAgenda or SDG Exchange tickets are required to attend the concert as the event is closed to the public. 

Nio Garcia is a native-Puerto Rican dancer and world-class choreographer, recently turned rapper and film actor with over 18 million listeners on Spotify. One of the trailblazers of the reggaeton movement, he's released hits such as ‘Te Boté', ‘AM', and ‘Mírame'. 

Presented by SDG Exchange, a global sustainability marketplace dedicated to reversing climate change one transaction at a time, the SDG Exchange's Exclusive Concert, will serve as a CoinAgenda Afterparty Concert closing out three days of events covering everything crypto and blockchain including: the Future of Digital assets, Crypto Banking, the Growing Utility of NFTs, Play-to-Earn Gaming, the DeFi and TradFi relationship, Latin America and Crypto, Stablecoins, Scaling Solutions, Blockchain Companies in Public Markets, Creating a Clean Crypto Future, Smart Cities, Crypto Investing Strategies, and Structuring to Protect Assets.

“We are proud to be a co-sponsor of CoinAgenda and part of Puerto Rico Blockchain Week,” said Jason Cooner, SDG Exchange founder and CEO. “We see Puerto Rico as a growing blockchain hub full of opportunities for entrepreneurship.”

CoinAgenda Caribbean will gather top speakers including Brad Garlinghouse, Founder of Ripple; Dan Morehead, CEO of Pantera Capital; Brittany Kaiser, Executive Chair of Gryphon Digital Mining; Jason Cooner, CEO of SDG Exchange, Michael Wagner, Co-Founder & CEO of Star Atlas; and Robert Viglione, CEO at Horizen Labs.

As an international conference series, CoinAgenda Caribbean is supported by some of the world's leading blockchain and cryptocurrency companies including:

Platinum Level:

• SDG Exchange - SDG Exchange is a global sustainability marketplace dedicated to reversing climate change one transaction at a time.

Gold Level:

• Horizen Labs - Horizen Labs is a blockchain technology company that provides the best tools to build blockchains and applications for real-world use cases with privacy options, low transaction fees, and configurable revenue models.

• FV Bank - FV Bank is a global digital bank providing business and individual accounts globally. It supports multiple currencies, international payments, investment accounts along with debit and prepaid cards. 

• Dfinity - (Gold Dinner Sponsor) The DFINITY Foundation is a nonprofit organization that develops the Internet Computer, a decentralized, open-source, general-purpose blockchain designed to host smart contracts. 

Silver Level

• FIO - FIO is to crypto, what HTTP is to the internet. FIO Protocol is the open-source and decentralized crypto usability layer that makes sending, receiving and even requesting crypto easier than ever and dramatically less risky to use. 

• Starter Capital - Starter Capital is the venture arm of Starter International, where we incubate and invest in the best projects in DEFI. Starter Capital empowers blockchain and digital currency innovators with resources and access to capital to help create a new future.

• Rair Tech - RAIR is a blockchain-based digital rights management platform that uses NFTs to get access to streaming content.

Bronze Level

• HeartRithm - HeartRithm is a regenerative engine for social impact. Their mission is to apply artificial intelligence algorithms to the global trade of digital currency, redistributing capital to philanthropic causes and social impact projects, accelerating the growth of a heart-centered culture. 

Section Sponsors

• DLTx - DLTx is a public company listed on the Norwegian Oslo Børs Stock Exchange and is the enterprise vendor for DAOs and blockchain protocols that offers unique access to the public blockchain markets & well-priced access to funding. 

• OriginTrail - OriginTrail is the world's first Decentralized Knowledge Graph is organizing humanity's most important assets, and making them discoverable, verifiable and valuable.

• unFederalReserve - unFederalReserve is a fintech SaaS company combining software built on blockchain technology and 200 years of consumer lending experience. Their banking products are designed for smaller U.S. Treasury chartered banks and non-bank lenders in need of a DeFi strategy and greater liquidity without sacrificing security or compliance.

• Blockchain Wire - Blockchain Wire is the industry's first blockchain press release distribution service focused exclusively on news about blockchain, distributed ledger technology companies, ICOs, STOs and other blockchain and cryptocurrency-related announcements. 

• Transform Group - Transform Group is the world's leading blockchain public relations, advisory, events and social media company, with offices in New York, Los Angeles, San Francisco, Las Vegas, Toronto and global headquarters in San Juan, Puerto Rico. 

• Bit Digital - Bit Digital is one of the world's largest publicly-listed bitcoin mining companies. Bit Digital is a sustainability-focused generator of digital assets with large-scale, global mining operations representing a currently-owned maximum hash rate of 1,603 EH/S. 

For more information regarding CoinAgenda, please visit  www.coinagenda.com. 

To purchase tickets or view the agenda for CoinAgenda Caribbean, visit the event page: www.coinagenda.com/coinagenda-caribbean-2021. 

To learn more about Puerto Rico Blockchain Week, visit www.prblockchainweek.io.

Connect with CoinAgenda: 

Twitter  Facebook  Telegram

ABOUT COINAGENDA

Now in its eighth year, CoinAgenda is the leading global conference series connecting professional investors, traders, family offices and digital currency funds with top entrepreneurs in the blockchain and cryptocurrency sectors. CoinAgenda Caribbean focuses on international blockchain investing trends, with world-class speakers from around the globe, plus a special focus on blockchain economic development, friendly jurisdictions, the rise of security tokens, enterprise applications, and changes in digital currency funding vehicles and digital currency exchanges. CoinAgenda is an experience that allows all attendees to meet, mingle, and get to know the leading thought leaders, entrepreneurs and investors in the sector, including memorable parties at unique locations. 

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CoinAgenda (www.coinagenda.com), the premier global conference series connecting blockchain and cryptocurrency investors with startups since 2014, and BitAngels, the leading network of bitcoin and blockchain investors, today announced the fifth annual CoinAgenda Caribbean event to be held at the Miramar Events Center in San Juan, Puerto Rico on December 7-9, 2021. Tickets and agenda are available on the event page.

The three day event will include topics around: the Future of Digital assets, Crypto Banking, the Growing Utility of NFTs, Play-to-Earn Gaming, the DeFi and TradFi relationship, Latin America and Crypto, Stablecoins, Scaling Solutions, Blockchain Companies in Public Markets, Creating a Clean Crypto Future, Smart Cities, Crypto Investing Strategies, and Structuring to Protect Assets.

Confirmed speakers include:

• Brad Garlinghouse, CEO at Ripple

• Dan Morehead, CEO at Pantera Capital

• Brittany Kaiser, Executive Chair at Gryphon Digital Mining

• Michael Wagner, Co-Founder & CEO of Star Atlas 

• Robert Viglione, Co-founder & CEO of Horizen Labs

• Brock Pierce, Chairman of Bitcoin Foundation

• Bill Barhydt, Founder & CEO of ABRA

• Edward Boyle, CEO of Medici Bank

• Miles Paschini, CEO of FV Bank

• David Johnston, COO at DLTx

• James Haft, Chairman at DLTx

• Jason Cooner, President & CEO at SDG Exchange

• Dean Thomas, Global Head of Institutional Capital at Polygon

• Michael Terpin, Founder and CEO of Transform Group and CoinAgenda

• Austin Davis, Co-Founder of CommunityElectricity.io

• Erika Zapanta, Global Director of Events at Transform Group

• Irina Litchfield, Partner at Percival Capital; BitAngels City Leader Austin

• Adryenn Ashley, NFT Community Designer at Wow! Is Me, Inc.

• Justin Litchfield, CEO of Quantum Machines

• Warren Whitlock, CEO of Stirling Corp; Advisor of BitAngels

• Mario Nawfal, CEO of NFT Technologies

• Matt McKibbin, Founder of DecentraNet

• Emma Rose Bienvenu, Chief of Staff at Pantera Capital

• Brian Santos, COO at Fly Air

• Ben Sigman, CEO of Make Sense Labs

• Sean Walsh, Founder of Redwood City Ventures

• Dr. Steven Waterhouse, CEO of Orchid Labs

• Alex Nascimento, Co-founder of Blockchain at UCLA

• David Namdar, Co-founder of NFT.com

• Joel Comm, Co-Host of Bad Crypto Podcast

• Travis Wright, Co-Host of Bad Crypto Podcast

• Brian Bourgerie, InvestPR

• Joey Krug, Co-CIO at Pantera Capital

• Bryan Bullett, CEO of Bit Digital Inc.

• Liat Aaronson, COO at Horizen Labs

• Jeff Crane, CEO and Exec Producer of NFT the Movie

The conference will also feature a startup contest (in collaboration with BitAngels) where a mix of angel and VC investments (as well as tokens trading on exchanges) will pitch in a Demo Day environment to judges and the CoinAgenda audience of investors and entrepreneurs. Judges may consist of crypto funds, family offices, VCs and strategic partners. Upon completion of the presentations, three winners will be announced and 1st place will walk away with a marketing package (valued up to $10,000).

In addition, all presenters will receive a recording of their presentation, have access to the full CoinAgenda event and parties and most importantly have their decks sent to a select group of investors unable to make the event in-person, but have expressed their interest in allocating capital into new deals within the next year. To apply to pitch and inquire about the presenter fee, email contact@coinagenda.com by November 30.

This cryptocurrency investor conference will conclude each day with an all-inclusive, high-end party where speakers, sponsors and attendees can mingle at some of the most memorable venues in the city. CoinAgenda's main party, known as the “Legendary Dinner” will be held at the Conservatorio de Música de Puerto Rico, with four courses of delicious local fare, drinks, and live musical entertainment under the night sky.

“This year has been one of incredible growth in the sector, we've even seen the cryptocurrency market hit $3 trillion for the first time,” said Erika Zapanta, Global Director of Events for CoinAgenda. “We are excited to return to the growing blockchain hub of Puerto Rico to discuss the mainstreaming of digital asset investing.”

Confirmed event sponsors include:

• DLTx - DLTx is a public company listed on the Norwegian Oslo Børs Stock Exchange and is the enterprise vendor for DAOs and blockchain protocols that offers unique access to the public blockchain markets & well-priced access to funding. DLTx has developed a novel way for investors to access compelling and predictable economic returns based on the changes created by the decentralization & disruption of major global industries.

• Transform Group - Transform Group is the world's leading blockchain public relations, advisory, events and social media company, with offices in New York, Los Angeles, San Francisco, Las Vegas, Toronto and global headquarters in San Juan, Puerto Rico. Transform Group is dedicated to creating and sustaining industry leadership positions for its clients through superior strategy, relationships, market intelligence and consistent execution.

• Rair Tech - RAIR is a blockchain-based digital rights management platform that uses NFTs to get access to streaming content.

• Raiinmaker - Raiinmaker is a blockchain-based social engagement platform where creators and brands grow, incentivize and reward fans to build community, together.

• Blockchain Wire - Blockchain Wire is the industry's first blockchain press release distribution service focused exclusively on news about blockchain, distributed ledger technology companies, ICOs, STOs and other blockchain and cryptocurrency-related announcements. Our global reach includes broadcast and online media outlets, social media sites, industry trade publications, leading blogs and blockchain industry influencers.

For more information regarding CoinAgenda, please visit  www.coinagenda.com. 

To purchase tickets for CoinAgenda Caribbean, visit the event page: https://coinagenda.com/coinagenda-caribbean-2021/. 

For the CoinAgenda Caribbean schedule, visit https://coinagenda.com/coinagenda-caribbean-2021-schedule/.  

To learn more about Puerto Rico Blockchain Week, visit www.prblockchainweek.io.

Connect with CoinAgenda: 

Twitter  Facebook  Telegram

ABOUT COINAGENDA

Now in its eighth year, CoinAgenda is the leading global conference series connecting professional investors, traders, family offices and digital currency funds with top entrepreneurs in the blockchain and cryptocurrency sectors. CoinAgenda Caribbean focuses on international blockchain investing trends, with world-class speakers from around the globe, plus a special focus on blockchain economic development, friendly jurisdictions, the rise of security tokens, enterprise applications, and changes in digital currency funding vehicles and digital currency exchanges. CoinAgenda is an experience that allows all attendees to meet, mingle, and get to know the leading thought leaders, entrepreneurs and investors in the sector, including memorable parties at unique locations. 

Let's get back to work together!

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