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Seeing Machines Limited (AIM: SEE, "Seeing Machines" or the "Company"), the advanced computer vision technology company that designs AI-powered operator monitoring systems to improve transport safety, announces that on 13 January 2023, Istabraq Pty Limited (Katmai Investments A/C), a person closely associated with the Company's Chief Financial Officer, Martin Ive, purchased a total of 955,204 ordinary shares ("Ordinary Shares") in the Company at a price of 6.59 pence per Ordinary Share. Further, on the same day, Marrach Super Pty Ltd (Ive Family Super Fund A/C), a person closely associated with Seeing Machines Chief Financial Officer, Martin Ive, purchased a total of 200,000 Ordinary Shares at a price of 6.59 pence per Ordinary Share.

Following purchases last week through Istabraq Pty Limited (Katmai Investments A/C) and Marrach Super Pty Ltd (Ive Family Super Fund A/C), Mr Ive is now beneficially interested in 2,900,000 Ordinary Shares, representing 0.07 per cent. of the issued share capital of the Company.

Since the summer of 2020, automakers have been struggling to meet buyer demand for new cars. A combo of a serious semiconductor shortage and plant closures related to the pandemic has driven the problem — and it’s been a tough one to fix. The shortage has sent prices of new and used vehicles skyrocketing, pushed waiting lists from weeks to months to years, and has lead to serious buyer unhappiness. But all that could start to change this year.

Expect more vehicles like this Hummer EV to roll off production lines in 2023.

Pricing calms down

At the recent Toyota Prius first drive event, Toyota Canada executives told us they expect the company to be "absolutely full out" in production this year. Other companies are also showing strong production forecasts as they work to solve the shortages.

Combine more vehicles on dealer lots with higher interest rates, and the price of used cars could stabilize. It won't happen right away, but the brief period of four-year-old cars selling for their original MSRPs could be over by mid-year. We're already starting to see a return to manufacturer incentives on new vehicles, with full-size trucks especially being offered with interest rates well below market.

The days of the V8 like this 426-inch supercharged Stellantis Hellephant V8 could be numbered.

RIP V8

While the death of the V8 engine has been predicted for years, 2023 will go down as a major extinction event for vehicles with eight cylinders. Toyota's V8 Tundra and Sequoia have been replaced by six-cylinder engines this model year, and the same goes for the Lexus LX. Mercedes-AMG, builders of some of the hairiest V8s we've seen in decades is replacing the 4.0L twin-turbo V8 with a four-cylinder hybrid in some models this year. Even Ferrari is building some of its cars with six-cylinder engines instead of V8s these days.

But here's the kicker. Stellantis builds some of the best V8s on the market right now, including the supercharged 6.2L Hellcat that makes more than 800 hp in some applications. That big engine is even offered (with a different name) in the Ram 1500 TRX pickup. The Dodge Charger and Challenger, available with 5.7, 6.4, and 6.2L V8 engines are going away. At least as we know them. The vehicles are now being sold as "last call" special editions and the Ontario plant where they're built will be retooled for EVs starting early next year. The Chrysler 300, built at the same plant, got a very limited 6.4L 300C model this year and then it too is set to disappear. The Dodge Durango gets the 6.2 and 6.4L V8s, and it too is expected to be gone next year. The Jeep Grand Cherokee will lose its 5.7L Hemi V8 for 2023, with that engine reserved for the longer L version of the model.

So if you want a V8 engine beyond 2023, you'll need to look to the pickup, the high-end sports car, or the few full-size SUVs that still offer one. And we'd bet the days of those models having eight cylinders are also limited.

https://www.thepeterb

With #CES over I was looking to update the design win chart for #driver #monitoring #systems #DMS. At this time it isn't possible to do so with any confidence. I'll explain.

The #PR position at e/o 2022 is:

Seeing Machines "15 automotive programs spanning 10 individual OEMs, covering more than 160 distinct vehicle models."

Smart Eye "a total of up to 194 design wins from 18 OEMs."

Cipia "28 vehicle models on 8 different platforms across 5 car manufacturers."

The PR makes it appear Smart Eye is the clear leader, but there are obvious differences in definitions. Smart Eye appears to be counting marques within a group. For instance, wins from Stellantis could be counted as two #OEMs if the marques were #Vauxhall and #Opel. This might also open the possibility to double count a win, such as Vauxhall #Mokka and Opel Mokka.

The biggest uncertainty is Smart Eye's latest award, for "up to 53 design wins." There is a difference between "up to 53" and 53, and the obfuscation is interesting. Looking at the data, ten of Smart Eye's first 17 OEMs initially went for a single model award, and two others are judged at 1-3 models. Three are judged 10-15 models, while two are unclear. Thus, statistically, OEM18 would have signed for a single model, and in the absence of definitive information it is assigned as such. That would take Smart Eye to 142 design wins.

Since the comparison disregards production volumes anyhow (a win for 10,000 units per year has equal weight to a win for 1 million per year) the only valid conclusion is that Smart Eye and Seeing Machines are the two clear leaders going into 2023 (ahead of Xperi Inc. and Cipia).

CES also revealed more information about the new BMW Group #iDrive 8.5 and 9. (https://lnkd.in/dSG8vpdr) Based on illumination patterns of the DMS seen in videos of iDrive 8, it is clear that iDrive DMS is a Seeing Machines win, superseding the Smart Eye win in Driving Assistant Professional.

Both companies are clearly counting BMW in their win totals, and in 2023 the Smart Eye volume will drop, and the Seeing Machines volume will rise, owing to the rollout of iDrive8/8.5/9.

The most meaningful metric going forward is thus quarterly unit data, which would allow unambiguous comparisons to be made between the two companies. Seeing Machines has already published quarterly #KPIs to the end of September, Smart Eye hasn’t - decide for yourself if that difference in disclosure is informative. The picture may be clearer by mid-year, and after Smart Eye has completed its on-going fundraise, but 2023 is primed to be a big year for DMS awards.

Magna International (w/ Veoneer), Continental and Valeo appear to be the key tier-1s for Seeing Machines. For Smart Eye, Aptiv, Bosch, Mitsubishi and maybe Hyundai MOBIS. For all the talk of #algorithms, "co-designed optical path" and #humanfactors science look set to be the winning differentiators. Try explaining those to the press and investors!

https://www.li

A cluster of three or more directors selling or buying is almost invariably meaningful.

Selling or buying by the chief executive and the finance director is a particularly powerful indicator. They are the two directors who are most likely to know the score.

The significance of share deals in relation to the number of shares held by a director is always relevant. A purchase of 20,000 shares by a chairman who owns more than a million shares is of no importance. However, the finance director doubling his holding of 20,000 shares is a very different kettle of fish. In a similar way, the sales director selling 20,000 shares out of a holding of 25,000 would put me on red alert.

Judgement is frequently required. A recent example, which I mentioned last month, was the sale of 350,000 shares out of a total of 844,193 held by the chief executive of Renew Holdings, the engineering services firm listed on London’s junior Aim market.

I may have made a mistake about this when I decided that his sale was significant enough to dissuade me from recommending the shares, which otherwise ticked all of my boxes. However, my golden rule is that when in doubt about whether or not to buy a share it is usually better and certainly safer to wait for another opportunity with no reservations.

Keep an eye on the buying and selling of shares granted under option schemes. If the purchase price of the options is say 30p and the shares are currently 200p, the purchase would not be meaningful – who wouldn’t buy shares at such a huge discount? The key point is whether any shares are being retained by the directors. Look for net retentions with some of the proceeds of option sales being held and added to ongoing holdings.

Substantial buying by non-executive directors can be indicative. For example, I was attracted to CVS Group, which runs vets’ surgeries, when I noticed in October that a non-executive director had bought 30,000 shares at 370p, adding to his existing holding of only 20,000 shares. Just four months later CVS shares have risen to 465p and still look promising.

Be alert to whether or not the directors are buying shares just to show the flag. Sometimes when companies are known to be in trouble or are contentious, a cluster of the directors buy a few shares to try to reassure the market that all is well.

Directors’ buying is more significant than directors’ selling. A director buying shares is in effect saying that he considers the shares to be undervalued and to be a better investment than cash. He or she will also be adding to an existing holding. Selling is different – a director may feel that the shares are overvalued but equally may require the money for a valid purpose such as buying a new or larger house or meeting an unexpected tax bill.

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