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VinFast CEO “prepared to take risks” for EV success - Automotive World

Tuesday, 05 December 2023

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VinFast CEO “prepared to take risks” for EV success Automotive World

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Automotive lighting market size to grow by USD 14.41 billion from ... - PR Newswire

Tuesday, 05 December 2023

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NEW YORK, Dec. 5, 2023 /PRNewswire/ -- Technavio categorizes the global automotive lighting market as a part of the global automotive components and accessories market. The global automotive lighting market is fragmented, with the presence of several global as well as regional vendors. A few prominent vendors that offer automotive lighting in the market are FLEX N GATE Corp, General Electric Co., Hyundai Motor Group, Koito Manufacturing Co. Ltd, Koninklijke Philips NV, Lumax Industries Ltd., Marelli Holdings Co Ltd, Namyung Lighting Co. Ltd, NXP Semiconductors NV, Samsung Electronics Co. Ltd., Seoul Semiconductor Co. Ltd., Stanley Electric Co. Ltd., Stellantis NV, Suprajit Engineering Ltd., Varroc Engineering Ltd, OSRAM GmbH, Robert Bosch GmbH, Valeo SA, Continental AG, and LG Corp. and others. The global automotive lighting market is at its growing stage. This implies that the market in focus is characterized by increasing demand for effective interior lighting, a rise in penetration of LED lighting, and stringent regulations on road safety.The global automotive components and accessories; market covers companies engaged in the production of parts and accessories for automobiles like passenger cars (PCs), electric vehicles (EVs), commercial vehicles (CVs), heavy-duty vehicles, off-road vehicles, motorcycles, scooters, quad bikes, and three-wheelers. The global automotive lighting market size is estimated to increase by USD 14,415.24 million. The market's growth momentum will progress at a CAGR of 9.79%.

Technavio has announced its latest market research report titled Global Automotive lighting Market

Discover some insights on market size before buying the full report -Request a sample report

Global automotive lighting market - Customer landscape
To help companies evaluate and develop growth strategies, the report outlines –

Key purchase criteria Adoption rates Adoption lifecycle Drivers of price sensitivity

Vendor offerings -

General Electric Co.: The company offers automotive lighting such as Ouster OS1, and ADB. Koito Manufacturing Co. Ltd: The company offers automotive lighting such as 9005. Koninklijke Philips NV: The company offers automotive lighting such as LED Headlamps, Discharge Headlamps, and Halogen Headlamps. Lumax Industries Ltd.: The company offers automotive lighting such as DiamondVision, WhiteVision Ultra, and Ultinon Pro5000 LED. Marelli Holdings Co Ltd: The company offers automotive lighting such as miniature lasers, micro-electrical mechanical systems, organic light diodes, and specialized LED. For Details on the vendor and its offerings – Buy the report!

Global automotive lighting market - Segmentation assessment

Segment overview
Technavio has segmented the market based on type (passenger cars and commercial vehicles), end-user (OEM and aftermarket), and geography (APAC, Europe, North America, South America, and Middle East and Africa).

The market share growth of the passenger segment will be higher than the other segments during the forecast period. The market for interior vehicle lighting is primarily driven by the rise in demand for luxury cars, particularly in developing nations, as well as technology advancements and improvements to vehicle safety. Market expansion is anticipated to be boosted by the combination of these lighting systems with infotainment systems and ambient lighting as brand differentiators. The growing popularity of sport utility vehicles (SUVs) among consumers will be the main factor driving the passenger cars sector of the global automotive lighting market during the projected period.

Geography overview
By geography, the global automotive lighting market is segmented into APAC, Europe, North America, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global automotive lighting market.

APAC will account for 58% of the market's growth during the forecast period. Due to the rising demand for LED lighting systems and increased auto production in the region, the APAC automotive lighting market will expand gradually during the projected period. Governmental incentives and the development of an EV charging infrastructure are also boosting the demand for these vehicles in the area. The region is predicted to adopt strict emission standards due to the growing concern about the use of diesel-powered vehicles, which is expected to increase demand for EVs in APAC.

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Global automotive lighting market – Market dynamics

Leading drivers - The rise in penetration of LED lighting is notably driving the automotive lighting market growth. Technological advancements lead to enabling features like glare-free adaptive driving beams (ADB), which improve the performance of LED lighting systems in the car industry. These features help drivers recognize and locate other roadways, particularly at night. Such advancements in headlamp-related LED lighting technology have significantly fueled the development of LED lighting technology in the luxury automotive market. Vendors are anticipated to experience significant growth due to the rising adoption of LED technology in mid-range and luxury automobiles.

Key trends - The development of autonomous vehicles is a major trend in the automotive lighting market. The market adoption of semi-autonomous features in passenger and commercial cars has increased due to various campaigns and promotions. By the end of the forecast period, self-driving cars may be a reality, and in ten years, a sizable number of them are projected to be on the road. Additionally, automakers can only demonstrate vehicle distinctiveness by including unique features. As a result, the requirement for interior lighting is being driven by the increase in electronic content per vehicle.

Major challenges - Stringent regulations governing automotive lighting technologies impede the growth of the automotive lighting market. To increase energy efficiency, nations all around the world have imposed the phase-out of incandescent light bulbs or halogen illumination. Even manufacturers of automotive LED lamps are subjected to legal and government regulations. Companies must abide by laws governing business, antitrust, patents, consumer rights, taxes, foreign exchange, environmental protection, recycling, and safety. Most nations either adhere to the SAE standards or have their own federal laws regulating the automotive lighting industry. The financial state of the companies and their market performances may suffer as a result of changes to these restrictions.

Driver, Trend & Challenges are the factor of market dynamics which states about consequences & sustainability of the businesses, find some insights from a sample report!

What are the key data covered in this automotive lighting market report?

CAGR of the market during the forecast period Detailed information on factors that will drive the growth of the automotive lighting market between 2023 and 2027 Precise estimation of the size of the automotive lighting market and its contribution to the parent market Accurate predictions about upcoming trends and changes in consumer behavior Growth of the automotive lighting market across APAC, Europe, North America, South America, and Middle East and Africa A thorough analysis of the market's competitive landscape and detailed information about vendors Comprehensive analysis of factors that will challenge the growth of automotive lighting market vendors

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Automotive LiDAR Sensors Market by Application, Technology, and Geography - Forecast and Analysis 2023-2027: The automotive lidar sensors market is estimated to grow at a CAGR of 16.79% between 2022 and 2027. The size of the market is forecast to increase by USD 408.48 million.

TOC

Executive Summary Market Landscape Market Sizing Historic Market Size Five Forces Analysis Market Segmentation by Vehicle Type Market Segmentation by End-User Customer Landscape Geographic Landscape Drivers, Challenges, and Trends Company Landscape Company Analysis Appendix

About US
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

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Chatbots to usher in digital age for public transit - Automotive World

Tuesday, 05 December 2023

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In a world where public transportation is struggling to keep up with modern urban life, conversational AI emerges s a beacon of hope. By Christoph Börner

Modern public transportation systems have a rich history dating back over a century. The London Underground, established in 1863, and New York City’s subway, which opened in 1904, are iconic examples. While these systems have evolved with technology and urbanisation, the costs of maintaining and upgrading them to meet modern standards have often exceeded available resources.

In the US, these upgrades can be 50% more expensive than in other countries. For instance, the installation of screen doors at just three New York subway stations is expected to cost around US$100m. Consequently, public transportation experiences often lag behind the times. Delays, complicated route planning and frustrations from the need to cross reference information are common, contributing to lower satisfaction among commuters when compared to alternative modes of transportation like cycling or driving.

Transit Bot Given the multitude of challenges in the public transport sector, enhancing customer experience (CX) requires multifaceted solutions. While various cities have adopted CX-focused measures to improve cleanliness and public safety, conversational AI remains an underutilised tool in the public transport sector.

Streamlining the transportation experience

AI-powered chatbots have the potential to address some of the common frustrations faced by public transportation commuters. They can help streamline communication, provide real-time information and improve overall user experience for commuters. For example: chatbots provide an interactive and user-friendly method for commuters to plan their journeys. With a chatbot, commuters can receive personalised route recommendations, compare prices and offer suggestions for stops closest to their destinations. When delays arise, chatbots can quickly offer alternative routes, ensuring a smoother travel experience. As users interact more with chatbots, the quality and personalisation of their recommendations also improve significantly.

Chatbots can also integrate booking and payment processes seamlessly, eliminating the need for commuters to switch between multiple apps or services. This convenience extends beyond traditional public transport to include e-bikes, scooters and other ride-sharing options. For example, the Mumbai Metro sells tickets directly through WhatsApp, simplifying CX and reducing the burden on travellers and ticketing agents.

When it comes to alerts, chatbots can assist commuters in real-time during their journeys. They can provide updates on delays, alternate route suggestions and relevant information throughout the travel. These real-time updates reduce customer frustration and minimise disruptions, ultimately leading to cost savings for public transport agencies and happier commuters.

To ensure a positive CX, chatbots require continuous testing and monitoring

They are also useful when it comes to multilingual support, allowing passengers to communicate in their preferred language. This feature enhances accessibility and ensures a more inclusive user experience for commuters from diverse linguistic backgrounds. For instance, in a city like New York, where people from around the world visit and live, a public transport chatbot can support languages such as English, Spanish, Mandarin, Arabic, and more.

Chatbots can go beyond language support and provide valuable information about accessibility features for passengers. This includes details on which stations have step-free access, ramps, elevators, or other accommodations for individuals with mobility challenges.

Testing

Chatbots offer a promising solution to enhance public transport CX without adding excessive costs, however, their implementation is not without challenges. Careless deployment can lead to a glitchy and frustrating experience for users. Chatbots, especially in their early phases, may provide inaccurate responses and struggle to understand the various ways users ask the same question. To ensure a positive CX, chatbots require continuous testing and monitoring.

Continuous testing services play a crucial role in guiding chatbots’ machine learning processes and ensuring a seamless and secure user experience. These services enable chatbots to adapt and learn over time, minimising errors and increasing user satisfaction.

In a world where public transportation systems are struggling to keep up with the demands of modern urban life, conversational AI-powered chatbots are emerging as a beacon of hope. They offer a much more efficient, user-friendly and connected travel experience, from route planning and booking to real-time updates and personalisation based on preferences.

To ensure their success and maximise their impact, the public transportation sector must invest in comprehensive chatbot testing and monitoring services. By doing so, it can embrace the full potential of chatbots and elevate the commuter experience to new heights, ushering public transport into the digital age.

The opinions expressed here are those of the author and do not necessarily reflect the positions of Automotive World Ltd.

Christoph Börner is Senior Director, Digital, at Cyara

The AutomotiveWorld.com Comment column is open to automotive industry decision makers and influencers. If you would like to contribute a Comment article, please contact This email address is being protected from spambots. You need JavaScript enabled to view it.

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Automotive MMI: Hot-Dipped Galvanized Steel Prices - MetalMiner

Tuesday, 05 December 2023

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The U.S. automotive industry witnessed several changes month-over-month. For one, the demand for new vehicles went up. However, steel prices, particularly hot-dipped galvanized steel, also rose along with demand. With the UAW strike over, analysts expect new vehicle manufacturing to pick up. However, new vehicle demand overall continues to battle elevated interest rates. Experts do not anticipate the Fed going dovish on interest rates until after the beginning of 2024. As a result, automotive sellers are lowering prices to move inventory off their lots.

Ultimately, rising steel prices weren’t enough to bring the index up month-over-month. In response, the Automotive MMI (Monthly Metals Index) dropped by 6.47%.

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automotive MMI, december 2023

A recent Reuters article reported that 1,236,000 new cars would be sold in the U.S. in November 2023, up nearly 10.2% from the previous year. Furthermore, projections suggest that increased vehicle availability and high demand for the newest models would be the main causes of this expansion. Meanwhile, a survey by industry experts J.D. Power and GlobalData states that retail inventory levels, which analysts predict will rise by 43.7% from the previous year and 7.5% from October 2023, were the driving force behind the sales surge.

Even after the nearly six-week UAW strike ended, there was still an improvement in the number of vehicles available. Meanwhile, dealer profits per unit continue declining due to elevated interest rates and increased availability of new cars. Despite this, they are still higher than they were before the pandemic.

hot-dipped galvanized steel.

This uptick in sales comes after a somewhat robust first half of the year, in which experts estimated that U.S. new car sales increased by almost 13%, significantly exceeding industry predictions. Those same experts anticipate that November sales will remain at 1.23 million units, with vehicle demand levels continuing to decline from the second quarter results.

Overall, the rise in new vehicle sales is a positive sign for the industry. However, vehicle availability continues to face high interest rates, keeping many consumers away. With the Fed unlikely to go dovish on interest rates until after the start of 2024, new vehicle sales might not witness any massive increases until interest rates drop to a more affordable level.

The outlook for steel prices in 2024 remains mixed. There are also questions as to how prices will impact automotive manufacturing. High hot-dipped galvanized steel prices, for example, significantly impact automotive manufacturing. Indeed, the automotive industry is a major consumer of galvanized steel, using it to produce car bodies, frames, and other components.

Therefore, spikes in the cost of hot-dipped galvanized steel often result in higher automobile manufacturing costs. This latest increase may force automakers to raise vehicle pricing to cover the additional costs, making the vehicles less accessible to potential buyers. Consequently, the market for new cars may decline.

steel being galvanized

Steel prices can see significant impacts from any disruption in the automobile sector, including United Auto Workers (UAW) strikes. During such strikes, thousands of tons more steel typically become available on the spot market. The increased supply often lowers the price of steel, which typically has a detrimental effect on the profitability of steel companies.

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On the other hand, lower hot-dipped galvanized prices offer the automotive sector several key benefits. One advantage is the ability to reduce the overall cost of vehicle manufacturing. If automakers can lower their costs, they can pass the savings on to consumers in the form of more affordable vehicles. As a result, this may lead to increased consumer demand for brand-new automobiles.

HDG coils

Reduced hot-dipped galvanized prices also directly enhance automakers’ profitability. So, even if automakers hold the line on vehicle costs, they can boost their profit margins when raw materials are cheaper. This can be especially valuable when customer demand for cars is weak, or the economy is uncertain. By cutting production costs, automakers can better maintain their financial stability and competitiveness.

Overall, lower hot-dip galvanized prices could assist the automobile sector’s expansion. When essential resources like hot-dipped galvanized steel are cheap, automakers could be more willing to invest in ramping up their manufacturing capacity or designing new car models. This could stimulate innovation, growth, and employment in the automobile industry, aiding automakers, their suppliers, and the economy as a whole.

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Chinese lead prices saw a modest decrease of 0.43% month-over-month, which left prices at $2,218.27 per metric ton. Hot-dipped galvanized steel prices shot up 20.02%. This brought prices to $1,247 per short ton. Finally, Korean aluminum 5052 coil premium over 1050 increased 4% to $4 per kilogram.

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Satellite High School Students Excel at CFADA High School ... - SpaceCoastDaily.com

Tuesday, 05 December 2023

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Jayson White placed third and received a $2,000 scholarship

Satellite High School students shine at Central Florida Auto Dealers Association High School Automotive Technology Hands-On Competition. Satellite High School senior Jayson White placed third and received a $2,000 scholarship, which can be applied to any post-secondary training program he chooses. (BPS image)

BREVARD COUNTY, FLORIDA – Satellite High School students shine at Central Florida Auto Dealers Association High School Automotive Technology Hands-On Competition.

Satellite High School senior Jayson White placed third and received a $2,000 scholarship, which can be applied to any post-secondary training program he chooses.

Currently, he is interested in the NASCAR Technical Institute, a division of Universal Technical Institute.

12th-graders Koah Kelly and Gage Underwood also competed in the competition, and both are looking to enroll at UTI to continue their post-secondary training.