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Earnings have been coming in fast and heavy past few weeks from the biggest names in U.S. autos and industrial tech: Tesla (TSLA), General Motors (GM), Ford (F), Visteon (VC), Gentex (GNTX)…
Archive edition · Market data and company circumstances reflect 1 November 2025, when this newsletter was sent.
Earnings have been coming in fast and heavy past few weeks from the biggest names in U.S. autos and industrial tech: Tesla (TSLA), General Motors (GM), Ford (F), Visteon (VC), Gentex (GNTX), QuantumScape (QS), Mobileye (MBLY), Amphenol (APH), and Vertiv (VRT).
The numbers revealed a lot about where the real momentum lies right now. Data-center and AI infrastructure demand is still running hot, driving strength across suppliers like Amphenol and Vertiv.
U.S. auto demand? Still stronger than most expected, even as tariffs and chip-supply worries creep back into the headlines. Let’s see what happened, and more importantly, what you should take away from it as an investor.
AI infrastructure spending is not slowing, it is accelerating. Both Amphenol (APH) and Vertiv (VRT) reported blowout quarters that point to a durable, multi-year investment cycle.
Both companies expect sequential growth into Q4 and 2026. Investors are realizing that the AI boom needs real hardware (cables, power, and thermal systems) and that’s exactly where industrial tech names like APH and VRT are winning.
Even as interest rates bite and incentives fade, auto demand remains firm.
Electric-vehicle growth, however, is more uneven:
Two recent headlines reminded investors just how fragile the global supply chain still is: One from the chip world and one from basic materials.
First, Nexperia (formerly part of NXP), a major supplier of standard automotive chips, faced new export restrictions announced in early October. These chips may not be as flashy as AI processors, but they’re essential for everyday car electronics like sensors and safety systems. Automakers including GM, Ford, and Visteon (VC) warned that if the curbs continue, production could start to slow within three to four weeks.
Then came Novelis, a key aluminum supplier, which suffered a major fire at its Kentucky plant. The disruption is expected to reduce Ford’s 2025 vehicle output by 90,000–100,000 units and cut $1.5–2 billion in EBIT. Ford says it plans to make up the lost volumes in 2026, while GM noted it has minimal exposure to the issue.
Tariffs are also back in play. The revised U.S. auto-tariff policy (announced on October 17) gives automakers some relief until 2030. Ford now expects a $1 billion net cost from tariffs and GM estimates around $2.6 billion, both assuming some benefit from improved credit conditions.
Investor’s Takeaway: Supply chain shocks and shifting trade rules are once again shaping how and where the automakers build their vehicles. For investors, that means paying attention not just to earnings, but also to who controls the inputs and policies behind them.
Autonomy and robotics, long hyped, are now making measured progress.
Meanwhile, Amazon (AMZN) aims to automate 75% of its warehouses, underscoring that robotics adoption is scaling fastest where labor meets logistics.
This article preserves the analysis in our weekly newsletter sent 1 November 2025. Market prices, forecasts and company circumstances reflect the time of publication and may have changed.
This material is general information, not personal financial advice or a recommendation to trade. Investing and trading involve risk, including loss of capital.