Lou KrenAutomotive Parts Suppliers Conference 2024
August 7, 2024Comments
If you’re a tier supplier in the automotive industry, APSC 2024—September 11-12 in Pontiac, MI—is the place to be for knowledge and networking.
As is forever the case, the automotive roller coaster continues. Consider this recent Detroit Free Press headline: “GM delays restart of Orion Assembly plant, will reopen it as battery-electric truck plant.” Or this one from the New York Times (NYT): “More Gas Cars and Trucks, Fewer E.V.s as Automakers Change Plans.” These and other articles describe how automotive OEMs are pulling back on previous commitments to electric-vehicle (EV) production, chiefly due to slowing consumer demand.
|
September 11-12, 2024 Auburn Hills Marriott Pontiac, Pontiac, MI Cost through August 28 is $599 for PMA members and $799 for nonmembers. Cost after August 29 is $699 for PMA Members and $899 for nonmembers. Discounted hotel rates also are available. For details on ASPC and to register, visit www.pma.org/apsc. |
“For much of the last five years,” writes NYT’s Neal Boudette, “automakers have been spending billions of dollars in a frantic race to develop electric vehicles and build factories to produce them, with expectations that consumers would flock to these new models. But in the past 12 months, the growth rate of electric vehicle sales has slowed sharply as some car buyers have balked at the high prices of electric cars and trucks and the hassles of charging them, especially on long trips.”
Confirming consumer attitudes,the results of a recent AAA study unveils declining interest in EV purchases. Of U.S. adults surveyed, only 18% claim that they are likely or very likely to buy an EV, a decline from 23% in 2023. And, 63% of respondents report being unlikely or very unlikely to make their next automotive purchase an EV.
Yes, automotive sales have rebounded from the pandemic and related chip shortage. With interest rates and other inflationary pressures somewhat leveling off, demand and supply in general have improved. But the EV vs. internal-combustion engine (ICE) debate playing out in OEM boardrooms leaves automotive-parts suppliers wondering just what to do moving forward. Let the Precision Metalforming Association and MetalForming magazine, with their Automotive Parts Suppliers Conference (APSC), help.
APSC 2024, set for September 11-12 in Pontiac, MI, brings together the auto-parts-supplier community for two days of insight, forecasting and networking that are hallmarks of this must-attend event, now in its 31st year. Attend to expand your network and make new connections, hear from industry leaders on topical issues of importance, and view exhibits from leading suppliers.
“Supplying the automotive industry never comes without challenges, of course, but today the challenges and uncertainty are greater than ever,” says David Klotz, PMA president. “From the uneven move toward electrification to the pressures of time-sensitive part and component delivery, all while trying to maintain a profit margin that makes supply worthwhile,, the industry is riding a roller coaster. These challenges require an informed supplier community that can adapt quickly and correctly. For more than 30 years, APSC has been providing the knowledge and networking opportunities that make such decision making possible, and this year’s information-packed schedule continues in that tradition. Simply put, APSC is a must-attend signature event.”
APSC 2024 kicks off on Wednesday, September 11, with the opening keynote, a presentation on the state of the automotive industry by Jeff Schuster, group head and executive vice president automotive for GlobalData, parent organization of LMC Automotive. A late-July joint forecast from J.D. Power and GlobalData offers that U.S. new-vehicle sales for July 2024 are projected to reach nearly 1.35 million units, an increase of 2.8% from July 2023. Total U.S. new-vehicle sales at a seasonally adjusted annualized rate (SAAR) are expected to reach 16.7 million units, a 0.7-million-unit increase from July 2023 and the highest SAAR in more than 3 yr. Trucks and SUVs are expected to account for 79.9% of new-vehicle retail sales in July 2024
“While premium segment retail sales are down 13%—driven by Tesla’s 22% decline—the mass market segment is up 63%,” offers Elizabeth Krear, vice president, electric vehicle practice at J.D. Power, in the forecast. “This is primarily due to increasing product availability. As availability and affordability continue improving in the mass market segment, EVs will attract more mainstream shoppers, but growth in charging infrastructure remains a critical part of the equation. The J.D. Power EV retail share forecast for 2024 has been reduced to 9% from 12%. Mass market shoppers need confidence that price parity will stick, and that charging accessibility will continue to improve.”
How will all of this vehicle information affect the supply chain? APSC 2024 has this covered, as day one ends with a roundtable discussion: the Ever-Evolving Automotive Supply Chain. Steve Horaney, vice president of sales and membership for MEMA Original Equipment Suppliers, moderates this lively session that tackles forecast numbers, the political environment, finding skilled workers, automotive-customer requirements, when to invest, material supplies and much more. Panelists include Michael Alcala, vice chair and CEO of GNS North America; Ben Barnett, president of Principal Mfg. Corp.; and Steve Wybo, senior managing director and automotive practice group leader at Riveron.
Video
Podcast
