Global automotive market update
How competitive shifts are reshaping credit
The competitive landscape of the global automotive industry is changing rapidly, with Chinese expansion, trade barriers, shifting technology strategies and evolving consumer demand creating both opportunities and risks. Please join us in December as we discuss what these developments mean for automakers, suppliers and individual auto credits around the world. Topics will include:
- Can the US auto market retain its status as an attractive, relatively protected market with an affluent customer base?
- How will European automakers navigate mounting challenges, including increasing competition from Chinese automakers?
- Will incumbent automakers be able to stem market share losses in China amid intensifying competition?
- Can Japanese and Korean automakers’ strength in hybrids support their competitive position amid tariffs and rising investment?
- How are automotive suppliers impacted by changes in the competitive landscape and what are the credit implications of an expansion into non-automotive end markets?
The discussion will include dedicated time to compare the relative positioning of individual auto credits. Submit your questions and topics of interest when registering.
Speakers
Matthias Heck
Senior Vice President, Corporate Finance
Moody's Ratings
Motoki Yanase
Senior Vice President, Corporate Finance Group
Moody's Ratings
Cindy Yang
Vice President – Senior Analyst, Corporate Finance
Moody’s Ratings
Rene Lipsch
Associate Managing Director, Corporate Finance
Moody’s Ratings
Roman Schorr
Vice President, Corporate Finance
Moody's Ratings
Moritz Melsbach
Vice President, Corporate Finance
Moody's Ratings
Eric Greaser
Vice President - Senior Analyst, Corporate Finance
Moody’s Ratings
Norah Zhang
Assistant Vice President, Financial Institutions
Moody's Ratings
Goetz Grossmann
Vice President, Corporate Finance
Moody's Ratings
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Matthias Heck is a Vice President –Senior Credit Officer within Moody’s European Corporate Finance Group, based in Frankfurt. He is Moody’s Lead Analyst for a portfolio of European large diversified industrial manufacturing companies and automotive parts suppliers.
Previously, Matthias covered European automotive original equipment manufacturers (OEMs). Matthias also coordinates Moody’s Global Automotive Industry Outlook and sector research. Previously, Matthias was responsible for a diverse portfolio of manufacturing, business services, real estate and consumer goods companies based in Europe.
Matthias has 25 years of experience in corporate ratings and financial analysis from a credit and equity perspective. He is a frequent speaker at investor conferences on Corporate Finance topics, especially on the automotive industry, application of rating methodologies and on supply chain finance. Matthias joined Moody’s in 2013, as a Senior Analyst of the Infrastructure Finance Team in London. Prior to this, Matthias worked for Macquarie, Sal. Oppenheim and Banco Santander as an equity research analyst focusing on European utilities. Matthias is a CFA charter holder and an Ambassador of the CFA Society to Moody’s. He also holds the CEFA qualification from the German Association of Financial Analysis and Asset Management (DVFA). Matthias has a degree in Business Administration from the Baden-Wuerttemberg Cooperative State University (DHBW), Mannheim, Germany.
Motoki Yanase is a Senior Vice President in Moody’s Corporate Finance Group, covering a portfolio of US automotive manufacturing, car rental services and heavy manufacturing companies. Immediately prior to his current role, Motoki was covering a portfolio of US packaging and building products companies.
Prior to joining Corporate Finance Group in New York in 2021, Motoki covered Japanese companies in the automotive, telecommunications, technologies and beverage industries in Moody’s Japan for six years. Motoki also held credit positions at Goldman Sachs and Aozora Bank, and, prior to these positions, he was an analyst at Moody’s Japan, covering industries including paper, specialty steel and non-ferrous metals.
He holds a BA from Keio University in Japan and an M.B.A. from The University of Chicago.
Cindy Yang is a Vice President – Senior Analyst with Moody’s Corporate Finance Group, based in Beijing. She is responsible for Chinese local government financing vehicles ratings.
Before joining Moody’s, Cindy worked for PricewaterhouseCoopers in Hong Kong as a senior auditor. Cindy holds a Master of Corporate and Financial Law from the University of Hong Kong and a Bachelor of Business Administration from the Chinese University of Hong Kong. She is also a HKICPA and ACCA.
Rene Lipsch is an Associate Managing Director in the Corporate Finance Group at Moody’s Ratings, where he heads the US Automotive, Transportation & Capital Goods team.
Prio to his current role, Rene was a Senior Vice President in the same group, with responsibility for a portfolio of investment-grade and high-yield US automotive and capital goods issuers, following earlier coverage of the transportation sector.
Before joining Moody’s in 2013, Rene spent nine years in investment banking in London, working in Equity Capital Markets at Credit Suisse and in Corporate Finance at Merrill Lynch. Earlier in his career, he was a Dutch and international tax advisor with Loyens & Loeff in Rotterdam and Hong Kong.
Rene holds an M.Sc. in Finance from London Business School and a M.Sc. in Economics from Erasmus University in Rotterdam.
Roman Schorr is a Vice President in Moody’s Corporate Finance Group. Based in Tokyo, Roman is responsible for a diverse portfolio of major Japanese corporates in the diversified manufacturing, technology, shipping, oil and gas and steel sectors.
Prior to joining Moody’s, Roman was a Director at Fitch Ratings in Tokyo, covering Japanese corporate credits, following his transfer from Fitch’s Frankfurt office. Previously, he was in corporate credit with Mizuho Bank in Dusseldorf.
Roman holds Masters degrees in Japanese Studies and Business Studies from the University of Duisburg-Essen, and in English Philology, Linguistics and Literature from Freie Universitaet Berlin. A native German speaker, Roman is fluent in English and Japanese.
Mortiz has more than 10 years of experience as a credit rating analyst. Since 2019 Moritz covers a portfolio of issuers in the chemical industry, which includes companies in the investment grade and high-yield space. Since joining Moody's Frankfurt office in 2012, Mortiz has covered companies from the semiconductor areospace & defense, investment holdings and manufacturing industries. Mortiz holds a Masters degree from the University of Hohenheim with a concentration in corporate finance and accounting.
Eric Greaser is a Vice President – Senior Analyst within the Corporate Finance Group based in New York. He covers a portfolio of automotive parts suppliers and logistics companies. Before joining Moody’s, Eric was a senior buyside analyst at several collateralized loan obligation and credit hedge funds covering diversified industrials, aerospace & defense and business services companies. Eric holds a Bachelor of Science from Murray State University and a Master of Business Administration from Washington University in St. Louis.
Norah covers a portfolio of US regional banks and specialty finance companies. Previously Norah worked as a Rating Associate assisting lead analysts with the ratings of US regional banks, global investment banks and securities firms.
Norah holds a Bachelor of Science from Stern School of Business of New York University.
5+ years’ professional experience (all at Moody’s Ratings).
Götz Grossmann isa Vice President within Moody’s EMEA Corporate Finance Group based in Frankfurt. He has lead responsibility for a portfolio of European high-yield and investment-grade automotive parts suppliers and manufacturing companies. Götz joined Moody’s as a Ratings Analyst in January 2011 covering companies in the automobile manufacturing, parts supplier and building materials industries.
Prior to Moody’s, Götz was an Assistant Manager in KPMG’s audit department based in London and Stuttgart. Götz is a CFA charterholder. He has studied at Eberhard Karls University of Tübingen and holds a master degree in business administration (DiplomKaufmann).