YOKOHAMA, Japan (Reuters) – Nissan Motor Co posted better-than-expected quarterly profits and lifted its annual earnings and sales forecasts on Wednesday, shaking off worries about the Thai floods and the global economy.
The move by Japan’s No.2 automaker stands in stark contrast to the results at rival Honda Motor Co, which withdrew its earnings guidance this week with no imminent recovery in sight for its flooded car factory in Thailand.
YOKOHAMA, Japan, Nov 2 (Reuters) – Nissan Motor Co
said its quarterly operating profit fell 4.6 percent, beating
analysts’ expectations and the company raised its annual
forecast closer to the market consensus despite a strengthening
yen, a shaky global economy and disruptive floods in Thailand.
Japan’s No.2 automaker is set to outshine rivals Toyota
Motor Corp and Honda Motor Co , which have been
hit harder by the Thai floods and have been slower in boosting
sales in emerging markets.
TOKYO (Reuters) – Honda Motor Co (7267.T: Quote, Profile, Research, Stock Buzz) withdrew its annual earnings guidance on Monday, blaming uncertainty in currency markets and floods in Thailand, just as it was starting to recover from Japan’s earthquake and tsunami.
Among Japanese automakers, Honda has been hit the hardest by the supply disruptions caused by both Asian disasters. The latest floods in Thailand have caused direct damage to the company’s car factory in Thailand’s Ayutthaya province.
TOKYO, Oct 31 (Reuters) – Honda Motor Co withdrew
its annual earnings guidance in an unusual move on Monday due to
uncertain currency markets and Thailand’s floods just as it was
starting to recover from the March earthquake and tsunami.
Among Japanese automakers, Honda has been hit the hardest by
both disasters this year, recovering slowly from the supply
disruption in northeast Japan and suffering direct damage at its
Thai car factory in the Ayutthaya industrial estate.
BANGKOK/TOKYO (Reuters) – Manufacturers of car parts to computer hard drives are worst hit in Thailand and face a bleak key holiday selling season due to massive floods, which have shut down production.
Japanese carmakers that had just started to recover from the March earthquake and tsunami that disrupted their supply chains are now facing shortages of key parts made in Thailand, a key manufacturing base in Southeast Asia.
TOKYO (Reuters) – Toyota Motor Corp said it would keep its Thai production suspended for a fourth week and reduce output in North America and South Africa, marking the first impact of the floods in Thailand on car production outside Asia.
Thailand’s worst floods in 50 years have affected hundreds of manufacturers and cut off the supply of about 100 components for Toyota, Thailand’s top automaker with a production capacity of 650,000 vehicles a year at its three factories there.
TOKYO, Oct 27 (Reuters) – Toyota Motor Corp said on
Thursday it would cut production in North America for one day
due to the interruption of parts supplies from Thailand, marking
the first impact of the floods on car production outside Asia.
Thailand’s worst floods in 50 years have affected hundreds
of manufacturers and cut off the supply of about 100 components
for Toyota, the country’s top automaker. Toyota has three
factories with a combined production capacity of 650,000
vehicles a year in the Southeast Asian export base.
TOKYO/SEOUL (Reuters) – Japanese automakers are set to post another fall in quarterly earnings on the lingering impact of the March 11 earthquake, while a shortage of parts due to flooding in Thailand has clouded their annual outlook.
In contrast, neighboring South Korea’s Hyundai Motor Co (005380.KS: Quote, Profile, Research, Stock Buzz) and affiliate Kia Motors Corp (000270.KS: Quote, Profile, Research, Stock Buzz) are expected to continue reporting solid earnings, driven by sales gains in the United States and other markets.
NUERBURGRING, Germany, Oct 14 (Reuters) – Toyota Motor Corp
(7203.T: Quote, Profile, Research) President Akio Toyoda said on Friday he would steer the
automaker with a view towards measured, sustainable growth that
would attract investors not swayed by short-term returns.
The world’s biggest automaker is struggling to shake off
losses from a historically strong yen and fierce competition
from rivals, especially Hyundai Motor Co (005380.KS: Quote, Profile, Research), which has
borrowed from Toyota’s business model to become a global
powerhouse over the past few years.
FRANKFURT/TOKYO (Reuters) – Germany’s Volkswagen had until the end of Friday to retract its accusation that strategic partner Japan’s Suzuki Motor breached their contract as a public and bitter spat raged between the two car makers.
Osamu Suzuki, chief executive of the eponymous car maker, has demanded VW sell its stake and end the partnership that has become a millstone round its neck, claiming Volkswagen harmed Suzuki’s reputation.