CAR MANAGEMENT BRIEFING SEMINARS. August 1, 2017

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1 Retooling For Growth in a Dynamic Market CAR MANAGEMENT BRIEFING SEMINARS August 1, 2017 Mike Jackson Executive Director, Strategy and Research Original Equipment Suppliers Association mjackson@oesa.org

2 2

3 Championing the business interests of the automotive OE supplier community: Founded in 1998, the Original Equipment Suppliers Association (OESA), serves as the voice of the automotive supplier and a valuable resource for member organizations. Throughout the supply chain and on legislative and regulatory issues, OESA represents the collective voice of suppliers. Exclusively for automotive suppliers: Supplier membership is exclusive to original equipment automotive suppliers that directly provide components, tools, materials and services to the OE light vehicle industry. Strength in numbers: Membership is comprised of approximately 375 Tier 1,2, and 3 automotive suppliers with North American OE sales that range from $10 million to $5+ billion. Affiliate members support the supplier community with thought leadership, industry analysis and other key information. LED By supplier industry executives: OESA s interests are guided by a board of directors consisting of CEOs from member companies of all sizes. Staff that works for members: Members enjoy direct access to a staff of dedicated association employees in Detroit and Washington, D.C.

4 AGENDA Vehicle Sales Dynamics Production Outlook Supplier Implications Summary 4

5 US: New Light Vehicle Sales Pace has slowed since late 2015, but still on pace for a strong year Monthly Sales (SAAR, millions) Keep America Rolling Employee Pricing For All Cash For Clunkers Source: Wards, US Bureau of Economic Analysis Total Car Light Truck 5

6 Millions Thousands US Light Vehicle Incentives and Inventory Vehicle Inventory (millions) Vehicle Incentive Spending (thousands) 50% % $4.0 25% % 0% % -5% $3.0-25% % -50% % $2.0 Y/Y (%) US Inventory Y/Y (%) US Incentive/Unit Source: Automotive News Data Center, Autodata 6

7 US: Light Vehicle Sales Outlook Forecasts vary among firms impact of sales taper is key assumption Annual Sales (millions) Trend: Rising 125K/year Source: PWC-Autofacts, IHS Markit, LMC Automotive, Wards Auto Intelligence June 2017 History PWC-Autofacts IHS-Markit LMC Wards Auto Intel 7

8 Lease and Fleet Share Retail Slowing, Industry Reverting to Bad Habits? Current Strength Borrows from Tomorrow Lease and Fleet Share of New LV Registrations 26% 24% 22% 20% 18% 16% 14% Lease Originations (millions) Lease Share Fleet Share Source: Cox Automotive, IHS Markit, Manheim Consulting 8

9 Manheim Used Vehicle Value Index Industry Holds Positive Momentum, yet segments reflect dramatic divergence Manheim Index (Jan 1995=100) 130 Change in Wholesale Auction Price (YTD, YOY) 35% % 25% 20% 15% 1 my old 2 my old 3 my old 4 my old % 105 5% % -5% -10% 90-15% Industry Compact cars Midsize cars Luxury cars Pickups SUV/ CUV Vans Source: Manheim, monthly, Adjusted for mix, mileage and seasonality 9

10 GOVERNMENT COMMERICAL DAILY RENTAL Fleet Sales Boom Can Leave Extended Impact Unique OEM Strategies Top Fleet Shares Change in Fleet Sales (Year over Year) 35% 25% 15% 2016 vs ' vs '14 +17% +400K M M M M 11% 11% 8% 8% 8% 8% 30% 27% 5% 17% % -5% -15% Ford GM FCA Nissan Hyundai- Kia Source: Automotive News Data Center Toyota Honda 20% % 10

11 Millions US Light Vehicle Sales Outlook By Type Car Utility 2 Truck Source: Wards Auto Intelligence % (865K) No Change (6K) +16% 1,180K -30% (2,039K) 11

12 AGENDA Vehicle Sales Dynamics Production Outlook Supplier Implications Summary 12

13 Jan-2008 Jan-2009 Jan-2010 Jan-2011 Jan-2012 Jan-2013 Jan-2014 Jan-2015 Jan-2016 Jan-2017 Significantly more optimistic Somewhat more optimistic Unchanged Somewhat more pessimistic Significantly more pessimistic OESA Supplier Barometer Index: SBI Score = 40 Inventories, production volumes and the political environment drive sentiment down Describe the general twelve month outlook for your business. Over the past three months, has your opinion become? Supplier Barometer Index: (SBI 6m Average) Current Supplier Outlook (Share of Respondents) 60% Q Q Lehman Collapse 40% Euro Crisis Begins Japan Tsunami/ Grexit Crisis US Fiscal Cliff 40 20% 0% Source: OESA Supplier Barometer 3Q 2017 OESA Automotive Supplier Barometer- July

14 OESA Supplier Barometer: Threats to the Outlook Rate the possible threats being considered in your current outlook over the next months, Changes in government trade policy 0% 20% 40% 60% 80% 100% Average Rating 3.9 Poor sales of vehicles in programs supplied Weakness in the U.S. Economy Implementation of new government regulations Likelihood of higher interst rates Terrorism or some type of international event Inability to address internal labor constraints Inability to fulfill customer volumes =Greatest threat =Smallest threat Source: OESA Supplier Barometer 3Q 2017 OESA Automotive Supplier Barometer- July

15 NORTH AMERICA Production Forecast Comparison (VOLUMES REPRESENT NA CAR, LT TRUCK CLASS 1-5) (in millions) 1Q Actual 2Q Forecast Q Forecast 4Q Forecast 2017 Forecast 2018 Forecast 2019 Forecast Δ Forecast Average Forecast Spread Average Source: OESA Forecast Snapshot June

16 Millions North America Industry Production Cycles % -3.8M -42% -6.4M -19% -2.6M -10% -1.7M -48% -7.8M -2.2% -385K? NA Production 2 Recession Linear (NA Production) Source: Wards Auto Intelligence Stress testing -10%? -20%? -30%? 16

17 Millions North American Production Demand Drives Divergent Growth Source: IHS Markit Car Utilities Truck -271K -7% +1.3M +19% -878K -13% 17

18 Vehicle Production Categories Winners & Losers Small Midsize Fullsize K +371K -719K Car Utility Truck -0.5 Car Utility Truck Car Utility Truck Source: IHS Markit 18

19 AGENDA Vehicle Sales Dynamics Production Outlook Supplier Implications Summary 19

20 Future Launch Activity Vehicles Cars Trucks D-Segment C-Segment B-Segment Thousands Average Transaction Price By Segment ($) June 2017 Utility Car % +39% +51% 0 Source: IHS Markit, Kelly Blue Book 20

21 Priorities & Positioning for Profitability $17,250 profit/unit.24 Million units sold $4.1 Billion MARGIN COMPETENCY ~$10,000 profit/unit 2.28 Million units sold $22.8 Billion MARKET SCALE 21

22 Production Portfolio Comparison OEM Units Car SUV Truck General Motors 3,647 32% 34% 34% Ford 3,068 25% 36% 39% FCA 2,516 13% 61% 27% Toyota 2,125 47% 36% 17% Honda 1,957 47% 51% 2% Renault-Nissan 1,846 56% 28% 16% Hyundai % 34% 0% $ BMW 411 0% 100% 0% Daimler % 69% 11% Volkswagen % 2% 0% Source: IHS Markit Other % 5% 0% Unit volume - 6,866 7,130 3,829 NA average 17,825 39% 40% 21% 22

23 Millions Millions Mexican Production Profile % 27% 24% 21% 18% 15% NA Share Car Utility Truck Other A4 US3 G3 Source: LMC Automotive 23

24 Passenger Cars: Under Pressure Steady March To Reduce US3 Car Portfolios and Utilize Global Sourcing Segment A/B Fiesta Sonic C Dart Focus Volt? Verano Cruze? D E 200 Taurus LaCrosse? Impala? CT6? 24

25 Top Automotive States Michigan Ohio Indiana Tennessee Kentucky Alabama Illinois North Carolina South Carolina Texas California Pennsylvania Georgia New York Wisconsin Missouri Iowa Virginia Top 20 - Supplier Employment (000s) 32% 8% 5% 6% 49% Source: 2017 MEMA Economic Study 2015CY ; Share of total direct employment Regional Share % Michigan Ohio Indiana Kentucky Alabama Tennessee Missouri Illinois Texas Mississippi South Carolina Georgia Kansas California US Vehicle Output (Millions) CAR TRUCK Regional Share % S-East, 38% 5% 1% Midwest, 56% Source: LMC Automotive, OESA Analysis 25

26 OESA Supplier Barometer Survey: HR & Talent Focus SKILLS + CULTURE GAP 63% MODERATE TO WIDE SKILL SETS SPECIALIZED AUTONOMOUS COLLABORATIVE ACTION PLANS: CROSS FUNCTIONAL TRAINING APPRENTICESHIPS TALENT SCARCITY NEW VALUES: TIME FLEXIBILITY ENGINEERS TECHNICIANS HOURLY SKILLED CHANGE ROLES TO FIT SKILLS NEW HIRING PRACTICES 26

27 AGENDA Vehicle Sales Dynamics Production Outlook Supplier Implications Summary 27

28 Summary Market: US demand slowing, divergent performance Strategy: Cycle requires dramatic reboot, engaged planning Offense: SUV growth/truck peak bring opportunities and risks Defense: Growing scope of passenger car dislocation, turbulence Flexibility: Liquidity is key; vital to balance Core vs Emerging Stretch: Build on strong foundation, adapt to grow reach higher 28

29 Thank You... CAR MANAGEMENT BRIEFING SEMINARS August 1, 2017 FOR QUESTIONS OR ASSISTANCE, PLEASE FEEL FREE CONTACT ME: Mike Jackson Executive Director, Strategy and Research Original Equipment Suppliers Association

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