TOKYO/SEOUL (Reuters) – Top Asian car makers Honda Motor (7267.T: Quote, Profile, Research, Stock Buzz) and Hyundai Motor Co (005380.KS: Quote, Profile, Research, Stock Buzz) painted vastly different portraits on Thursday, with Hyundai turning in a stellar quarterly performance while Honda struggled to overcome supply woes after Japan’s devastating earthquake.
Japanese automakers have slashed production and are yet to figure out how fast parts makers affected by the magnitude-9.0 earthquake on March 11 will recover, making it difficult to give earnings forecasts for the current year to March 2012.
TOKYO (Reuters) – Honda Motor Co (7267.T: Quote, Profile, Research, Stock Buzz) reported a 52 percent fall in quarterly operating profit and refrained from providing an outlook for the new year as it struggles to measure the speed of its recovery after last month’s massive earthquake in Japan.
Japanese automakers have yet to figure out how fast all of the parts makers affected by the magnitude-9.0 quake on March 11 will fully recover, making it difficult to give an earnings projection for the business year to March 2012.
TOKYO/SEOUL, April 28 (Reuters) – Honda Motor and
Hyundai Motor will paint vastly different pictures
for the year ahead when they report earnings on Thursday after
the March 11 earthquake hammered car production in Japan and
helped overseas rivals in the process.
The magnitude-9.0 earthquake and the tsunami it triggered
have disrupted the supply of hundreds of components from Japan’s
northeast region, paralysing car production and reversing what
had been shaping up to be a firm recovery from the financial
crisis for Japanese automakers.
TOKYO (Reuters) – Toyota Motor Corp (7203.T: Quote, Profile, Research, Stock Buzz) said it could take until the end of the year before production has fully recovered to levels before the massive earthquake and tsunami on March 11 devastated Japan’s northeast, disrupting the supply of key parts.
In the clearest forecast yet of how long it will take for the Japanese auto industry to recover, Toyota said output would start to pick up in July in Japan and around August overseas, with a complete recovery not until November or December.
TOKYO, April 22 (Reuters) – Toyota Motor Corp said
it could take until the end of the year before production has
fully recovered to levels before the massive earthquake and
tsunami on March 11 devastated Japan’s northeast, disrupting the
supply of key parts.
In the clearest forecast yet of how long it will take for
the Japanese auto industry to recover, Toyota said output would
start to pick up in July in Japan and around August overseas,
with a complete recovery not until November or December.
SHANGHAI, April 20 (Reuters)- Japanese automakers said the
shortage of certain Japan-made parts was starting to affect
production in China, but played down fears that sales would also
be hit as they seek to keep up with the fast-growing but
fiercely competitive market.
Toyota Motor Corp , the world’s largest automaker,
said on Wednesday it would cut production in China in half until
June 3 because of the supply disruptions stemming from the March
11 earthquake in Japan.
SHANGHAI, April 19 (Reuters) – Electric and “new-energy”
vehicles took the spotlight at China’s Shanghai Auto Show on
Tuesday with Honda Motor Co and one of its Chinese
partners joining the ranks of other car makers announcing new
models of energy efficient cars.
While car makers are bullish about the future of the “green”
vehicles in the world’s largest auto market, questions remain
over China’s use of coal to generate the majority of its
electricity, consumer perceptions about the safety and
convenience of electric cars and not least, the Chinese
government’s plans and policies for the electric-hybrid
SHANGHAI, April 18 (Reuters) – Chongqing Changan Automobile
Co Ltd , which has a three-way partnership with Ford
Motor Co and Mazda Motor Corp in China, said on
Monday that the joint venture is considering rolling out its own
The comment from Changan Auto’s general manager, Zhang
Baolin, comes as more Chinese automakers develop their own
brands with help from their foreign partners after selling and
making cars under the more well-known foreign badges in joint
ventures that are legally required by Beijing.
TOKYO, April 15 (Reuters) – Toyota Motor Corp said
it will build cars at half the rate of its original plans in
Japan at least until June 3 in a move estimated to cost the
world’s biggest automaker another 120,000 vehicles in lost
Japanese automakers have been hammered by a shortage of
hundreds of components after factories in the northeast of the
country were damaged by a magnitude-9.0 earthquake on March 11.
TOKYO, April 8 (Reuters) – Japan’s top automakers plan to
resume production at all domestic factories in stages starting
on Monday, but output levels will be at half of original plans
and at the mercy of parts availability, while fresh power
outages further clouded the outlook.
A historic 9.0-magnitude earthquake on March 11 off Japan’s
northeastern coast damaged equipment, cut off electricity and
disrupted automakers’ complex supply chain over the past month,
forcing them to suspend work at most factories.