Looking back at three catastrophes, the high yen, the tsunami and the Thai flood, a Japanese auto executive said to me last spring: “We’ve gone through hell, and made it. What else would be there, war?” He was close. A war of words over rocks in the East China Sea destroys Japanese car sales in China, while Korea profits. (Read More…)
Toyota’s China sales dropped 44.1 percent year-on-year to about 45,600 units in October, The Nikkei [sub] says. Toyota confirmed the number. A territorial dispute over uninhabited rocks in the East China Sea triggered a massive boycotts of Japanese goods, especially of high-profile cars. In September, Toyota’s China sales were down 40 percent in September.
A company owned by China’s central government is taking it on the chin as Chinese customers avoid Japan branded cars. Dongfeng reduced production at its joint ventures with Nissan and Honda, the Wall Street Journal reports today. Amount or duration of what the company calls “production adjustments” is unknown. (Read More…)
The boycott of Japanese goods in China, triggered by a dispute over uninhabited islands in the East China Sea, hit Japanese automakers where it hurts most: In the pocket-book. Honda cut its profit forecast for the fiscal year to March to 375 billion yen ($4.7 billion) from its earlier estimate of 470 billion yen ($5.9 billion), Reuters says. (Read More…)
Sales of Japanese cars in China dropped 40 percent in September as a result of the islands rumpus. The shares of Nissan, Toyota and Honda shares lost about 10 percent of their value. Chinese state-owned enterprises lost much more. (Read More…)
The violent anti-Japanese demonstrations in China appear to be over, and intestinal complications aside, it seems to be safe again to eat sushi in Beijing or Shanghai. State-owned media however is trying its utmost to keep the matter on the front burner, so to speak, in a very insidious way. (Read More…)
Cratering China sales due to the islands row made Toyota revise its production targets. Worldwide production by the Toyota Group including Daihatsu and Hino “now looks likely to reach around 9.8 million units to 9.9 million units for the calendar year instead of the currently projected 10.05 million units,” The Nikkei [sub] says.
Toyota may be cutting back its global group production by 200,000 units in the 2012 calendar year, writes Reuters, as a reaction to sharply reduced sales in China after the island row. Toyota’s China sales were down 49 percent in September. (Read More…)
Japanese carmakers and their Chinese joint venture partners lost big-time in the spat over the Diaoyu/Senkaku islands. The winners are German carmakers and their Chinese joint venture partners. Oddly enough, the central government ends up with a shot in the foot. (Read More…)
Some have quietly or openly been hoping the GM could cash-in on the misery of Japanese brands in China. It’s not happening. Sales across all of GM’s Chinese joint ventures were up a marginal 1.7 percent in September while sales of German marques received a boost. (Read More…)
Toyota’s sales in China took a big hit in September, reports by the Yomiuri Shimbun and Reuters say. Executives of Japanese carmakers are putting on a brave face when it comes to China, but are worried that their significant China business could become a casualty of the East China Sea troubles.
No official data are available yet, but the Yomiuri says that Toyota’s September sales in China “halved,” after many Chinese customers canceled their orders in September. Reuters talks about a 40 percent reduction. A senior Toyota executive told the usually very reliable Reuters that Toyota sold about 50,000 cars in China in September, down from about 86,000 in September 2011. (Read More…)
On Monday, Japan’s prime minister Yoshihiko Noda presented a new and improved cabinet, tailcoats and all. Apparently, that cabinet has few friends in Japan’s auto industry.
Akio Toyoda, who took over the rotating chairmanship of the Japan Automobile Manufacturers Association last May, sent a surprisingly strongly worded address to his new leaders. Speaking on behalf of all JAMA members, Toyoda said: (Read More…)
Japanese carmakers are worried about their sales in China after Japanese cars were smashed and dealerships torched during large scale anti-Japanese riots in China last month. As a first indicator that Japanese cars may be falling out of favor in China, Mazda reports via Reuters that September sales in China dropped 35 percent. (Read More…)