Mobility Global Forecast Update July Update Reflects Positive Revisions, Though Unsurprising in Context of Supplier Commentary; EU/NA Standout, While China Incrementally Weaker

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Mobility Global Forecast Update July Update Reflects Positive Revisions, Though Unsurprising in Context of Supplier Commentary; EU/NA Standout, While China Incrementally Weaker

J P M O R G A N North America Equity Research

16 July 2026

Mobility Global Forecast Update

July Update Reflects Positive Revisions, Though

Unsurprising in Context of Supplier Commentary; EU/

NA Standout, While China Incrementally Weaker

Quick take: The latest Mobility Global (previously S&P Global Mobility/IHS) Autos & Auto Parts

ACforecast revisions paint a stronger backdrop for 2Q26 supplier results, Rajat Gupta

reinforced by our conversations and conference circuit commentary over the (1-212) 622-6382

past month, with North American & European production meaningfully rajat.gupta@jpmorgan.com

improved vs. April (when suppliers last guided). 2H26 production outlook was Yash Beswala

held largely flat (+0.2%) with NA/EU slightly higher, offset by lower China. 2027 (1-212) 622-0028

absolute levels were also largely unchanged (+0.2%). Note that our yash.beswala@jpmchase.com

conversations with suppliers and takeaways from their conference circuits (click Jash Patwa

here for our detailed takeaways note) had already set the tone for a raise this (1-212) 622-5472

jash.patwa@jpmchase.com

month, given (1) the solid operating backdrop for suppliers in 2Q and positive J.P. Morgan Securities LLC

line of sight into customer production schedules 4-6 weeks out; as well as (2) the

conservatism Mobility Global had baked into their forecasts last month on the

back of the ongoing Middle East conflict.

Auto suppliers set for a solid 2Q. With earnings kicking off next week, the latest

Mobility Global positive revisions for North America corroborate the constructive