Posts Tagged ‘nissan china’

Nissan Reports Marginal Profit Increase

Maker lifted by weak yen but hurt by ongoing China problems.

by on May.10, 2013

Nissan CEO Carlos Ghosn at the 2013 NY Auto Show.

Nissan kept its balance sheet in the black for the just-ended fiscal year, but despite the lift it got from the weakening yen, the maker had trouble overcoming the ongoing problems it faces in China, as well as some unexpected setbacks in the U.S. market.

The second-largest Japanese maker’s modest 0.3% increase in a net profit of ¥342.45 billion, or $3.4 billion, comes in sharp contrast to the tripling in profits reported earlier this week by arch-rival Toyota Motor Co.

Your Trusted Source!

The two automakers were both hurt by problems in China stemming, but Nissan had other issues to deal with, senior officials acknowledged, the company’s CEO Carlos Ghosn telling reporters that “It’s clear that several negative factors outweighed (the) positive contributions” of such things as the weakening yen.

(more…)

Tags: , , , , , , , , , , , , , ,
Posted in Automobiles | Comments Off

Ford Finally Gaining Ground in China

But Japanese makers; GM also picking up momentum.

by on Feb.11, 2013

Ford CEO Alan Mulally sees China a key target for the maker which got off to a late start in the market.

A latecomer to the massive and growing Chinese automotive market, Ford China is reporting its best-ever January, selling more than double the number of passenger cars it did in January 2012.

In all Ford sold 44,439 passenger cars—including imported vehicles—last month, a 135% increase year-over-year, and achieved combined passenger car and commercial vehicle sales of 61,475 wholesale vehicles, a 98% increase from January 2012 that helped Ford pick up market share.

Subscribe Free!

“We’re ending the year of the dragon with pride in having served more customers in China than ever before,” said John Lawler, Chairman and CEO of Ford China. The annual Lunar New Year celebration is now underway across China.

(more…)

Tags: , , , , , , , , , , , ,
Posted in Automobiles | Comments Off

GM Sets Another New Sales Record in China – And it’s Not Alone.

Maker still has a month to go before closing books on 2012.

by on Dec.06, 2012

A Cadillac XLR at its Beijing debut earlier this year.

The once-explosive pace of growth in the Chinese car market has slowed down sharply this year – which means that General Motors had to wait until November to set a new sales record.

With a month left to run up the final total, GM and its various affiliates have sold 2,593,642 cars, trucks and crossovers in China, compared with 2,547,171 for all of last year.  The good news for GM – and its competitors – was that November saw a renewed surge in a market that has, over the past decade, seen sales nearly double in some years.

http://www.thedetroitbureau.com/about/subscribe

Subscribe Now! It's Free!

GM isn’t alone, however, Ford was one of a number of other makers that also reported hitting all-time sales records by the end of November and still more are expected to get there by the time December’s numbers are tallied.  On the other hand, key Japanese makers could miss their once-lofty sales goals as a result of ongoing political turmoil.

(more…)

Tags: , , , , , , , , , , , , ,
Posted in Automobiles | Comments Off

Nissan Profits Up – But Forecast Trimmed

Chinese boycott likely to be significant setback.

by on Nov.06, 2012

Nissan COO Toshiyuki Shiga with the maker's Townpod concept vehicle.

Nissan Motor Co. followed its two key Japanese rivals on Tuesday by reporting an upward bump in earnings – but while also forecasting that problems in China will negatively impact its full-year forecast.

Compared to Honda and Toyota, Nissan revealed a relatively modest 8% increase in net earnings for the July – September quarter. But by comparison, Japan’s second-largest automaker also recovered much faster than its rivals from the devastating earthquake and tsunami that swept through the Northeast part of the country in March 2011.

Subscribe Now - It's Free!

On the other hand, Nissan appears particularly vulnerable in China, where anti-Japanese sentiment reached the boiling point in September after the Tokyo government acquired a series of uninhabited islets in the South China Sea also claimed by Beijing. That has touched off an ongoing boycott that is likely to have an ongoing impact, Nissan warned.

(more…)

Tags: , , , , , , , , , , , , , ,
Posted in Automobiles | Comments Off

Japanese Makers Slash Chinese Production – Offers Incentives to Win Buyers Back

Sales collapse in wake of disputed over barren islands.

by on Oct.10, 2012

Nissan CEO Carlos Ghosn - shown during this year's Beijing Motor Show - now has to temporarily scale back once-ambitious plans for the Chinese market.

They’re little more than some volcanic outcroppings in the midst of the South China Sea, but the dispute over their ownership between China and Japan has led to a collapse in demand for brands like Toyota, Nissan and Honda in the booming Chinese auto market.

The three largest Japanese makers now plan to cut by half their production in China in the wake of recent protests and ongoing calls for Chinese consumers to boycott Japanese products.  Meanwhile, Toyota plans to compensate owners whose vehicles were damaged or destroyed during protests over the Diaoyu Islands controversy.

Global Insight!

“Our principle is that the customer should not be liable, regardless of whether or not their vehicle already has insurance,” noted an official statement from FAW Toyota, one of the Japanese maker’s Chinese joint ventures. Its other operations will reportedly take similar steps that could include assisting in repair costs or offering subsidies for a replacement vehicle.

(more…)

Tags: , , , , , , , , , , , , ,
Posted in Automobiles | Comments Off

“Key” to the Future, Nissan Planning $8 Billion Push into China

Maker will launch 30 new models by 2015.

by on Jul.26, 2011

Nissan CEO Carlos Ghosn outlines big plans for the Chinese market.

Calling it the “key” to the company’s future, Nissan will invest $8 billion in an aggressive Chinese expansion plan that it hopes will help double annual sales in the booming Asian market.

Working with its local partner, the Dongfeng Group, Nissan says it will add another 30 new models to its Chinese line-up by 2015, including a new battery-electric vehicle that will be sold under the new low-priced Venucia brand.

In all, Nissan CEO Carlos Ghosn said the Japanese maker hopes to nearly double sales in China over the next four years.  They hit 1.3 million last year but Nissan is targeting a figure closer to 2.3 million by 2015.

Inside News!

“China is key to our total growth,” the Brazilian-born executive declared during a Beijing news conference.  “We used to be extremely dependent on one market – it was the U.S. market,” he added, but the company’s strategy is now to put more emphasis on China.

(more…)

Tags: , , , , , , , , , , , ,
Posted in Automobiles | Comments Off