Blockchain Press Releases
AlixPartners: As the global automotive market recovers more slowly than anticipated, China is rapidly emerging as an industry superpower
Chinese car manufacturers now lead the world in export volume as the traditional western car industry is running out of time to defend its historic domestic market share.
LONDON, June 27, 2023 /PRNewswire/ — With supply chain bottlenecks and raw material shortages becoming a thing of the past, the global market for automobiles is growing once again – but at a significantly slower pace than many experts expected.
As a result, sales figures in Europe will be more than 15% below pre-Covid levels in the longer term with the UK fairing slightly better at c.10% below pre-Covid levels but levelling off at c.2.4m vehicles sold annually by around 2026.
At the same time, European OEMs are also increasingly under pressure in their home markets from Chinese manufacturers, more and more of whom are pushing into European markets with electric vehicles. In the first quarter of 2023, China replaced Japan as the world leader in automotive exports – an astonishing advancement from sixth place as recently as 2019.
These are among the key findings from global consulting firm AlixPartners 2023 Global Automotive Outlook, a regularly cited source of reference for the OEMS, suppliers and industry commentators alike.
Automotive market continues to grow, but at a slower pace
- China drives global automotive market growth
- Growth slows in other regions – contrary to earlier predictions
- Sales figures in Europe are predicted to be more than 15% below pre-Covid levels in the long term
- UK Sales figures are expected to fair slightly better plateauing at c.10% below pre-Covid levels
- Battery costs not falling fast enough and threaten to dampen the rapid increase in sales of electric cars over the next three to five years and extending ICE lifetime
China is increasingly becoming an automotive superpower
- In 2019, China was the world’s sixth largest automotive exporter. As of Q1 2023, Chinese OEMs have replaced Japan as the export world leaders for the first time
- In the Chinese domestic market in 2023, and for the first time in decades, Chinese brands will surpass foreign brands (51%) and are predicted to reach a market share of 65% by 2030
- While the industry has hitherto focused on Tesla as a single marque threat, now is the time to prepare for future competition from Chinese BEV imports from an ever-growing roster of manufacturers
Increasing pressure on margins and liquidity of European OEMs and suppliers
- OEMs’ earnings situation will deteriorate in a low growth market – with margins of OEMs and suppliers converging again
- Suppliers’ net debt rises to record levels (+27% since 2018) due to operational liquidity requirements; however, OEMs’ debt has decreased (-8% since 2018)
- Rising capital costs and ongoing record investments due to the switch to electric cars require active management of cash flow and liquidity, especially for suppliers
In the UK, investment in battery manufacturing capacity has not materialised at the levels seen elsewhere – increasing the UK’s reliance on China and recent drops in raw material costs have reversed yet again due to rising Chinese demand, remaining between 30-80% above pre-Covid levels.
“While UK sales volumes are expected to plateau in the long term, we do see conflicting tensions between continued lower scrappage rates and increasing average vehicle age in the car park being offset by sustained population growth and steady rates of car ownership per person”, said AlixPartners automotive expert Tom Beard regarding the UK picture. “Keeping an eye on changes to these trends will be key to understanding the real long-term impact in the UK”.
China continues its growth trajectory not only as an attractive sales market but also as an exporter and producer in equal measure. This is also reflected in the Chinese domestic market: in 2023, for the first time in decades, Chinese brands will surpass foreign ones (51%) and are predicted to reach a home market share of 65% by 2030.
Commenting on China’s increasing importance Andrew Bergbaum, a Partner & Managing Director in the Alixpartners Automotive practice, said, “China can now really be regarded as an automotive superpower. UK & European OEMs, on the other hand, are increasingly taking on the role of defenders of market share in their traditional, and shrinking, home markets. At the same time, having enjoyed some recent pricing power, they are now coming under pressure with tightening margins in the face of a low growth global market and increasing competition. For the UK, the proposed accelerated transition away from pure combustion engines by 2030 is going to position lower-cost Chinese imported BEVs as attractive alternatives”.
At the same time, costs are escalating and becoming a critical factor for OEMs and automotive suppliers alike. Raw material costs will not return to pre-Covid levels and have recently risen, yet again, to 30-80% of pre-Covid levels. With China’s continued market growth, forecast to achieve 117% on pre-covid volumes, AlixPartners does not foresee battery capacity catching up with demand and, in jurisdictions such as the UK, requirement, in the near term.
As a result, it is becoming increasingly apparent that combustion engines and electric vehicles will exist in parallel for longer than originally expected. The lengthening ICE lifetime is helped by the fact that the drawn-out decline in the cost of batteries will significantly dampen the pace of the transition to electric mobility in the medium term. This ‘twin-tracking’ prevents the establishment of rapid economies of scale and in turn further increases the acute financial pressure on the industry.
“The UK is already 3 to 5 years behind the rest of Europe in terms of building EV battery manufacturing capacity. This gap is widening, with the possibility of Europe largely removing its reliance on China by 2027. Even if additional UK investments were confirmed in the very short term, the challenging ramp-up process means the UK could still be reliant on importing more than a third of its batteries by 2030, adding further cost pressures to UK-built vehicles”, AlixPartners EV and battery expert Ken Henderson said of the UK’s EV conundrum.
Rising capital costs round off the negative scenario. Automotive suppliers are confronted with a rapid increase in net debt due to their sandwiched position (+27% since 2018). The chance of passing on further manufacturing cost increases from material and labour through to OEMs is low and yet at the same time the transition to electromobility requires a high level of operational liquidity.
AlixPartners Automotive and Restructuring Partner & Managing Director Nick Parker said, “The stress phase for suppliers, which has endured now for several years, will persist and continues to pose existential challenges for many of them. The debt of the supplier industry is currently at a record high, while at the same time the cost of capital and liquidity requirements for current business and investments are rising. The pressure on margins remains high. Cash flow and liquidity management must therefore be a top priority for suppliers. We expect that this situation will also lead to further consolidation in the supplier industry and the continued divestment of combustion engine-related operations”.
Notes to editors
About the Global Automotive Outlook
2023 is the 20th year of the AlixPartners Global Automotive Outlook. The globally recognised study is considered one of the most important trend barometers of the automotive industry worldwide, allying industry data with the unique insights of AlixPartners Automotive experts. For the study, the global consultancy evaluated the financial results of more than 300 automotive manufacturers and suppliers, undertook consumer surveys, and conducted almost 100 expert interviews.
About AlixPartners
AlixPartners is a results-driven global consulting firm that specializes in helping businesses successfully address their most complex and critical opportunities. Our clients include companies, corporate boards, law firms, investment banks, private equity firms, and others. Founded in 1981 in Detroit, AlixPartners is headquartered in New York, and has offices in more than 20 cities around the world. For more information, visit www.alixpartners.com.
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DUBAI, UAE, Nov. 28, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, unveiled a new candidate for a potential Bybit Spot listing via ByVotes, HPOS10I (HarryPotterObamaSonic10Inu). Voting is now open for Bybit users with an opportunity to divide a prize pool of 1,800,000 HPOS10I.
From now to Nov. 29, 8AM UTC, supporters of HPOS10I may cast their votes for the project in two simple steps: deposit eligible assets into their Bybit account to produce a holdings snapshot, and head over to ByVotes to cast their votes. With sufficient votes from the community, the project will be listed on Bybit Spot, and the voters will receive a share of the airdrop from HPOS10I.
The iconic memecoin was the first of its kind to fuse the realm of fantasy and the chaotic lure of crypto, leaving its mark in crypto history since its launch in May 2023. It is known for its vibrant community, the Sproto Gremlins, an NFT collection of 3,333 exclusive unique manifestations of HPOS10I’s egregore.
Bybit has recently revamped ByVotes to raise the bar for listing requirements and yield more power to the community. Users now have more control over the number of votes they get by increasing holdings or by referrals, while unlocking more earning potentials from project listings.
The new mechanism enhanced both project quality and community engagements. A variety of tokens have achieved 100% listing odds via ByVotes, including CHILLGUY, LUCE, and NEIROCTO, among others. Multiple projects featured exclusive airdrops for the community that helped them become listed on Bybit Spot.
ByVotes provides an arena for niche projects where participants stand to be rewarded from various prize pools if the projects they vote for succeed in getting listed status on Bybit Spot: ByVotes Spot.
#Bybit / #TheCryptoArk
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.
For more details about Bybit, please visit Bybit Press
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DYOR Labs, a leading decentralized finance (DeFi) research and trading platform, has unveiled a groundbreaking suite of blockchain-powered advanced analytics & trading tools aimed at breaking down barriers for retail & institutional investors.
Under the leadership of former Hollywood actor turned tech entrepreneur and blockchain advocate Ben Kurland, DYOR labs is one of the rare platforms fully integrating blockchain technology across its entire suite of tools. DYOR Labs has quickly solidified its position as a leader in decentralized finance (DeFi) innovation by seamlessly integrating with major blockchain networks, including Base, Ethereum, Polygon, and Solana. These integrations ensure the platform’s scalability, security, and interoperability across the DeFi ecosystem. Within its first month of launch, DYOR Labs has evaluated over 1 million blockchain projects and attracted nearly 50,000 new users, demonstrating its rapid adoption and impact.
Strategic partnerships with industry leaders such as Alchemy, Debridge, UNCX, Solidproof, and Moralis have laid a strong foundation for the platform’s continued growth. Financial backing from renowned investors like Ghaff Capital, IBC, and OZARU further validates DYOR Labs’ credibility. Additionally, endorsements from over 75 influential figures—including Altcoin Daily, Crypto Banter, Mario Nawfal, Carl from the Moon, and Crypto Lark—have amplified its reach, reinforcing its role as a transformative force in DeFi.
This positions it as a leader in fostering transparency and trust in a market often plagued by complexity and lack of accountability. By combining cutting-edge analytics, real-time data, and robust customization features, DYOR labs is redefining how traders, developers and investors engage with the blockchain ecosystem.
Speaking on the platform’s growth, Ben Kurland, CEO of DYOR Labs, said, “Crypto tools shouldn’t feel like they require a PhD to use or trust, At DYOR, we’ve created a platform so intuitive it feels like second nature—whether you’re a trader looking for your edge or a project team trying to scale professionally. It’s time for Web3 to offer the same world-class usability that Web2 has delivered for decades.”
He further added, “Our mission is to simplify DeFi while addressing its biggest challenges. Traders deserve a seamless, user-first platform, and project teams need professional-grade tools to run their tokens and businesses effectively. DYOR Labs is here to bridge that gap, empowering the entire crypto community to thrive.”
Key platform features include:
Offering a cutting-edge suite of features designed to empower both traders and developers in the decentralized finance space, DYOR users gain real-time advanced insights with instant access to comprehensive token data and market activity. The platform’s unparalleled trading tools deliver unmatched speed and cost efficiency, whilst customizable dashboards allow users of all experience levels to personalize workflows with saved presets, multi-chart tabs, and tailored features. For developers, the Team Dashboards provide a powerful solution to create and edit project pages, showcase metrics, and build community trust through transparency. With fiat on/off ramp integration, cross-chain swaps, and a native DEX and aggregator, DYOR Labs ensures seamless trading across blockchains, delivering the fastest and most cost-effective transactions in DeFi.
What’s Next?
DYOR Labs continues to innovate, with upcoming features that include AI-Powered Insights, Missions and Quests to gamify user engagement, the first ever onchain ad auctions, enhanced team dashboards for token project management, live social media feeds integrated directly into token pages and cross-chain swaps, putting the platform at the forefront of DeFi innovation, creating a seamless and transparent ecosystem for users and developers alike.
The post DYOR Labs Unveils Advanced Blockchain-Powered Analytics and Trading Tools appeared first on News, Events, Advertising Options.
DUBAI, UAE, Nov. 27, 2024 /PRNewswire/ — The Crypto Content Creator Campus (CCCC), a groundbreaking event shaping the future of the crypto content creator economy, is proud to announce the appointment of Phoebe Peng as its Managing Director. This strategic move follows the successful inaugural CCCC event held in Dubai from November 8th to 10th, 2024. Peng’s appointment signals an exciting new chapter for CCCC as it aims to redefine the standards for crypto education, challenge conventional narratives, and amplify diverse and credible voices within the community.
Phoebe brings unique experience from her roles at Moledao, the Blockchain for Good Alliance, and Bybit, where she excelled in delivering decisive execution and innovative thinking in dynamic, fast-paced environments. As a goal-oriented leader from the new generation of crypto professionals, Phoebe combines forward-thinking innovation with a deep passion for community building in the Web3 space.
In her new role, Phoebe will spearhead CCCC’s ambitious growth strategy, positioning the Campus as a pivotal force in driving thoughtful, responsible, and impactful content creation within the industry. Her responsibilities will encompass cultivating strong relationships with key stakeholders, optimizing resource allocation, mitigating potential risks, forging strategic partnerships, and developing comprehensive strategic plans.
“I am honored to have completed CCCC 2024 with Bybit’s support and trust. The CCCC will become a flagship event for crypto content creators, and I am excited to be taking it to new heights in the coming years,” said Phoebe Peng, Managing Director of the CCCC.
Founded in 2024, the CCCC is the first mega event of its kind to put the spotlight on the creative side of crypto content generation through panels, workshops, and networking opportunities. By amplifying responsible and thoughtful voices for the long-term prospect of the sector, the event attracted over 200 creators and renowned speakers, including Randi Zuckerberg, Founder & CEO of Zuckerberg Media and HUG; Zach King, Filmmaker & Content Creator; Nick Tran, former Head of Global Marketing at TikTok; Katie Penn, former Global Head of Marketing at X, among others. The 2025 edition of CCCC will be held in Lisbon, Portugal.
About Crypto Content Creator Campus (CCCC)
We are a team of industry experts and visionaries committed to shaping the future of content creation within the Web3 and crypto sphere. Driven by a shared passion for creating a high-value community, we’ve curated a campus that promises an experience unlike any other.
For more details about CCCC, please visit: https://www.cccc.buzz/
For inquiries, please contact: [email protected]
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