Global Automotive Stocks/EV Focus/Event Driven, SC Capital

SC Capital

SC Capital has over 20 years' experience covering the global automotive industry both on the Sell Side (UBS & Morgan Stanley) and Buy Side (Och-Ziff), along with a wealth of industry contacts. 

Current focus is on electric vehicle stocks & their supply chains. Aim is to identify the winners and losers from a long/short perspective. This includes close coverage of legacy automakers as well.  

From time to time. we cover opportunistic events with stocks in the manufacturing sector, food & beverage, healthcare and tech, where we also have coverage experience.

Global Automotive Stocks/EV Focus/Event Driven

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Over 22 years covering Japanese equities on both the sell side and the buy side. 

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Equity Bottom-Up

<ul>
<li>Mazda's sales in North America appear to be on a tear, with January vehicle sales up +14% YoY and February up by another +11% YoY. Unfortunately, most of this growth is from a huge increase in fleet sales to rent-a-car agencies, which carry razor-thin margins. </li>
<li>Excluding these fleet sales in North America (which are expected to amount to 24% of total sales there during the January to March quarter), real sales are up only +5% YoY in January and down -1% in February.</li>
<li>What is of concern is that…</li>
</ul>


Mazda's sales in North America appear to be on a tear, with January vehicle sales up +14% YoY and February up by another +11% YoY. Unfortunately, most of this growth is from a huge increase in fleet sales to rent-a-car agencies, which carry razor-thin margins. 
Excluding these fleet sales in North America (which are expected to amount to 24% of total sales there during the January to March quarter), real sales are up only +5% YoY in January and down -1% in February.
What is of concern is that…


Mazda Motor

Mazda (7261) Update--On Fragile Ground