Auto Week: Ferrari, Honda Lead a Crowded Earnings Calendar

The week is dominated by autos. Ferrari reports Tuesday, November 3. Austrian car registrations, a dataset ORTEX measures as a revenue leading indicator for Ferrari with a 22-day lead, are running 75% below the same quarter last year. The fit is weak, but the direction is a headwind worth watching.

Mid-week brings a heavier load. Honda Motor reports Thursday, November 6. Japanese car registrations, a strong-fit leading indicator for Honda revenue with a 65-day lead, are down 10% on the same quarter a year ago. Renault reports Wednesday. Its Austrian car indicator points to modest growth of 6% year on year, though Dutch registrations are running 21% lower.

Polestar also reports Wednesday. German car registrations, a strong-fit leading indicator, are running 32% above the same quarter last year. Dutch registrations point the other way, down 68%. The mixed signals make it one of the more uncertain prints of the week.

Mahindra & Mahindra reports Wednesday too. India two-wheeler registrations hit a record low for October since 2017, with volumes falling 87% year on year to 407,743 units, according to ORTEX alt data. The India registrations dataset leads Mahindra revenue by 38 days with a moderate fit, and is running 82% below the same quarter last year.

No IPOs are scheduled in the next seven days.

On the index front, ORTEX's Rebalance Radar flags Corteva with a 77% probability of MSCI World deletion. Forced selling of $555M could trade on November 30 if the announcement comes November 11.