Japanese Automakers Feel the Pain

Discussion in 'OT Driven' started by TriShield, Dec 24, 2008.

  1. TriShield

    TriShield Super Moderator® Staff Member

    Jul 6, 2001
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    Bad November for Toyota: Toyota’s Japanese production dropped 27.2 percent in November from a year earlier to 288,138 vehicles as exports sagged 23.9 percent and domestic sales skidded 27.6 percent Overseas production fell 26.1 percent to 301,367 in the month. Other Japanese companies share in the misery, but not as much as ToMoCo: Honda down 3.9 percent in November. Mazda minus 19.8 percent. Suzuki shed 7.3 percent, writes the Nikkei (sub)

    Itai-itai!: Nissan’s and Mitsubishi’s numbers came in by the end of the day in Tokyo, and they are nasty: Nissan’s domestic output shrank by 35.6 percent in November, their exports tanked by 30.2 percent, the Japanese domestic sales down 22.8 percent. Mitsubishi not much better: Output in Japan down 2.6 percent. November exports minus 13.8 percent. Domestic (Japanese) sales evaporated to the tune of minus 31.1 percent. The Nikkei (sub) carries this moral-enhancing comment: “Some analysts warn that earnings could get worse further down the road, indicating more output drops may come.” Kota Yuzawa, analyst at Goldman Sachs, said: “We still cannot see an earnings bottom.”

  2. nsxrebel

    nsxrebel New Member

    May 22, 2006
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    They are all feeling the pinch, some more than others. Honda is pulling out of F1 completely, and maybe other forms of motorsports, and they are not doing as bad as other motor companies.

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