Global Autos Daily: The Morning News

Research evidence excerpt

Global Autos Daily: The Morning News

Deutsche Bank

Research

Europe Strategy Date

26 June 2026

Global Autos Daily Market Update

The Morning News

Tim Rokossa

Michelin capacity optimization, Ferrari preview, Top Picks Head of European Equity Research

Europe, Applied Materials DRAM update, Germany

Schnappschuss Christoph Laskawi

Research Analyst

INVITES: Ferrari Expert call (7/9), Truck'n'Roll - Truck IAA Nicolai Kempf Research Analyst

Field trip (9/15-16)

Edison Yu

Michelin to optimize capacity utilization in the US (Laskawi) Research Analyst

Michelin has announced the planned ramp down of a BFGoodrich plant in the US Bin Wang

by 2028 and will book a EUR220m charge for the closure. The plant is currently Research Analyst

employing 1200 people and is operating far below capacity. Nearly all production Nikita Papaccio

of BFGoodrich will be consolidated at Fort Wayne which is currently also operating Research Analyst

below capacity but as a result should see improving utilization. Despite the plant

Winnie Dong

being located in the US and localization being crucial in the current tariff

environment we welcome the decision as it enhances utilization of assets in the

region without losing output. Laura Li

Research Associate

Ferrari - Guidance upgrade still on track - Q2 preview (Kempf) James Mulholland, CFA

Ferrari is scheduled to report its Q2 results on July 30th, with a corresponding Research Associate

conference call on the same day. Amidst ongoing model changeovers, we Wei Huang

anticipate lower y/y volumes. However, price and mix are expected to remain Research Associate

supportive, largely driven by the gradual ramp-up of the F80, which will offset a Mira Wiegratz

reduced share of the SF90 XX family. Furthermore, a likely lower share of Range Research Associate