Subscribe free to our newsletters via your
. Military Space News .




CAR TECH
Japan's top three automakers post record 2012 sales
by Staff Writers
Tokyo (AFP) Jan 28, 2013


Japan's three biggest automakers -- Toyota, Nissan and Honda -- on Monday posted record sales for 2012, as the results confirmed that Toyota recaptured the world's biggest automaker crown.

The rosy results underscored the trio's recovery after Japan's quake-tsunami disaster in 2011 devastated sales and production, and highlighted strong demand in the key Asian and US markets.

That helped offset weakness in debt-hit Europe and a downturn in China stemming from a diplomatic row that sparked a consumer boycott of Japanese goods in China, the world's biggest vehicle market.

On Monday, Toyota said sales last year soared 22.6 percent to 9.75 million vehicles, while Nissan saw a 5.8 percent on-year rise to 4.94 million units with record numbers in the US market.

Honda, Japan's number-three automaker, logged sales of 3.81 million vehicles, up from 3.09 million a year earlier.

The latest figures confirmed that Toyota regained the global sales title which it lost in 2011 to US-based General Motors, largely due to the natural disasters.

The crisis and flooding in Thailand -- where Japanese automakers have production plants -- during 2011 marked a "particularly harsh year", said Nomura auto analyst Masataka Kunugimoto.

"2012 is the year we saw things becoming normal again," he said.

However, Nissan, part-owned by France's Renault, warned in November that its net profit for the fiscal year through March would be down 20 percent to 320 billion yen ($3.52 billion), citing its heavy exposure to China.

Honda has blamed the territorial row with Beijing over an East China Sea island chain -- and a strong yen -- for a 20 percent cut to its annual profit forecast.

Less affected by the dispute, Toyota hiked its profit forecast to 780 billion yen for the same period, up from 760 billion yen, although it trimmed its annual sales forecast to 21.3 trillion yen and credited much of its improved earnings outlook to cost cuts.

The long-standing row flared again in September when Tokyo nationalised some of the tiny archipelago that is also claimed by Beijing, setting off huge demonstrations across China and the consumer boycott.

Japanese factories and businesses across China temporarily closed or scaled back operations over fears of being targeted by angry mobs.

Nissan's chief executive Carlos Ghosn has warned that the firm would think twice about making new investments in China, where it has several production plants with a new factory in the northeastern city of Dalian planned for 2014.

On the production side, Toyota said Monday that it made 9.90 million vehicles last year, up 26.1 percent, while Nissan posted a 5.5 percent production increase to 4.88 million units in 2012.

The automakers have been forced to recall millions of vehicles over safety and quality concerns in recent years, while being hit by the strong yen which makes their products less competitive overseas and shrinks repatriated foreign income.

The unit hit record highs around 75 against the dollar in late 2011 and remained strong through most of last year until Japan's new conservative government swept to power in December.

Its promises to pressure the Bank of Japan for aggressive easing to boost the world's third-largest economy has sent the yen into a steep dive to below the 90-level on the dollar.

"Foreign exchange remains the major factor that can change the tone of the industry," Nomura's Kunugimoto said.

"A lower yen is positive for earnings. If that continues, it would allow for more research and development spending which should then strengthen automakers' competitiveness."

Toyota shares were down 0.57 percent to 4,315 yen and Honda was off 0.58 percent at 3,400 yen while Nissan bucked a fall in the broader market on Monday by closing up 2.40 percent at 895 yen.

.


Related Links
Car Technology at SpaceMart.com






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle








CAR TECH
Caterpillar's China woes warn foreign investors
Shanghai (AFP) Jan 27, 2013
Caterpillar's revelation it found fake accounts at a just-acquired Chinese firm which will cost it hundreds of millions of dollars is a cautionary tale for those looking to enter the hugely promising market. The US equipment giant said this month it would take a $580 million charge after uncovering "accounting misconduct" at Siwei Mechanical and Electrical Manufacturing Co., which it bought ... read more


CAR TECH
Missile defense EEKV shows value

First Patriot missiles 'operational' on Turkey-Syria border

NATO Patriot missiles operational in Turkey at weekend

Israel upgrades missile-killer Iron Dome

CAR TECH
India wheels out new long-range missile in annual parade

Raytheon awarded contract for HARM upgrade

Short-range ballistic missile again fired in Syria: NATO

Iran develops new missile launcher

CAR TECH
US military plans drone base near Mali: official

Sagetech, ING Robotic Aviation Demonstrate "Sense and Avoid" Capabilities of UAV's

Northrop Grumman, Cassidian Fly First Sensor-Equipped Euro Hawk

TerraLuma Selects Headwall's Micro Hyperspec for UAV Applications

CAR TECH
Raytheon offers Global Aircrew Strategic Network Terminal Soultion

US Army Upgrades Manpack Radios For MUOS Network

Insights from the SIA DoD Commercial SATCOM Users' Workshop

Boeing to Upgrade Combat Survivor Evader Locator Radios, Base Stations

CAR TECH
Commander sees women in elite US special forces

Canada receives upgraded LAV III

Marines Get Improved Precision Extended Range Munitions

Raytheon, US Navy demonstrate new dual targeting capability for JSOW C-1

CAR TECH
Rheinmetall, Cassidian gain orders

Shoigu: Russia seeks army 'modernization'

Pentagon lays off workers as budget cuts loom

Britain to axe up to 5,300 army jobs

CAR TECH
China's military at 'high risk' on corruption: watchdog

China, Japan scholars seek way out in islands row

Outside View: Demise of American politics

Japan to launch coastguard unit for disputed isles

CAR TECH
Notre Dame studies benefits and threats of nanotechnology research

A nano-gear in a nano-motor inside

New Research Gives Insight into Graphene Grain Boundaries

Chemistry resolves toxic concerns about carbon nanotubes




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement