February 22, 2023 • Posted in Daily Bulletin

MH Daily Bulletin: February 22

News relevant to the plastics industry:

At M. Holland

  • At M. Holland, we work closely with customers to understand their goals and challenges and find the right solutions. Click here to read more about our recent collaboration with Eaton, an international power management company, to increase the adoption of additive manufacturing and easily scale production across its locations worldwide.
  • Market Expertise: M. Holland offers a host of resources to clients, prospects and suppliers across nine strategic markets.

Supply

Supply Chain

Combustion Going Bust: Global Phase-outs of Gasoline Cars
  • Toyota agreed to union demands in Japan for the highest wage hikes in two decades, while Honda said hourly wages will rise 5% as the country battles its highest inflation rate in 40 years.
  • Tesla paused plans to produce entire batteries in Brandenburg, Germany, and will instead carry out some production in the U.S., where tax incentives are more favorable.
  • Rising inventory levels are leading to lower gross margins for car dealers.
  • New car registrations in Europe surged 11% in January, the sixth consecutive monthly rise.
  • Toyota will start producing mid- to large-sized electric SUVs at its Kentucky plant as soon as summer 2025, the automaker said.
  • Chinese electric-vehicle-maker Nio is building a new factory in eastern China to produce budget EVs for export to Europe.
  • Tesla owners worry the automaker’s decision to open up parts of its Supercharger network will raise wait times to recharge cars.
  • After recent price cuts, Tesla’s Model 3 sedan is selling for about $4,930 less than the average new vehicle sold in the U.S.

Domestic Markets

United States Composite PMI

International Markets

  • Business activity in the U.S., euro zone and the U.K. picked up in February, a sign of resilience as Russia’s invasion of Ukraine enters its second year.
  • U.S. and EU officials say China is increasingly using its courts and patent panels to undermine foreign intellectual-property rights.
  • The U.K.’s manufacturing output slumped in February while price pressures continued to cool, an industry survey showed.
  • German investor morale continued to recover in February as the economic outlook for the euro zone’s largest economy continues to brighten.
  • Big manufacturers in Japan saw disappointing activity in February while the mood in the nation’s service sector slid for a second month.
  • Some Chinese provinces are giving newlyweds 30 days of paid leave in the hope of boosting a flagging birth rate, an issue with massive implications for the nation’s long-term economic health.
  • Canada’s annual inflation rate fell to 5.9% in January, lower than markets predicted.
Canada Inflation Rate

Some sources linked are subscription services.

Stay informed with industry trends and insights.

Subscribe