Archive for July, 2008

« Previous Entries

Mitsubishi Motors announces first quarter fiscal 2008 results

Wednesday, July 30th, 2008

Mitsubishi Motors Corporation (MMC) today announced its sales and financial results for the first quarter of the fiscal year ending March 31, 2009.

  • Performance overview
    • Mitsubishi Motors reports that consolidated net sales totaled 610.1 billion yen in the first quarter of fiscal 2008 (April 1 through June 30) - a 3 percent decline on the same period last fiscal year (630.8 billion yen). An increase in earnings resulting from improvements in the model mix was more than offset by a decrease in sales volume and the effects of a stronger yen exchange rate. Mitsubishi Motors posted an operating profit of 9.9 billion yen, 3.9 billion yen up on the same period last fiscal year. Factors contributing to this improvement include higher sales volume in Europe, a more profitable model mix in all regions including an increase in the ratio of build-up vehicle sales to total unit volume in Asia and other regions, and the company’s efforts to reduce costs including reductions in sales expenses in the U.S. These more than offset the effects of a stronger yen and lower profits from the company’s sales finance operations in the U.S. Mitsubishi Motors posted an ordinary profit of 16.2 billion yen - a gain of 13.6 billion yen over last year — due to the improvement in operating profit, an upturn in the balance of interest received and paid, and increased gains on foreign exchange transactions. Mitsubishi Motors reported a net profit of 10.3 billion yen for the period, a year-on-year improvement of 18.5 billion yen. This improvement was due to the upturn in ordinary profit and to the lack of one-time reorganization costs stemming from the regional integration of its domestic consolidated sales companies booked in fiscal 2007.
  • Sales volume
    • Global retail sales volume in the first quarter of fiscal 2008 totaled 314,000 vehicles, a 7 percent decrease of 24,000 on the 338,000 sold in the same period in fiscal 2007. In Japan, where demand remains at the same level as last year, MMC sold 39,000 vehicles, a 15 percent drop of 7,000 over the same period last year. This decline was due to slower sales of SUV models as more customers switched to smaller cars, and to the company’s cutback in low-margin minicar trading. In North America the company sold 37,000 vehicles, a 23 percent decrease of 11,000 over the same period in 2007. Higher sales volume in Canada and Mexico failed to offset the significant drop in sales of locally built models in the U.S., despite firm sales of the new Lancer. In Europe Mitsubishi Motors sold 92,000 vehicles, a 14 percent increase of 12,000. This was driven by continuing growth in unit sales in Russia, the Ukraine and the countries of Central Europe which offset a lower sales volume in West Europe. In Asia and other regions, MMC sold 146,000 vehicles, an 11 percent decrease of 18,000 over the same period last year. This was the result of lower sales of production parts for local assembly in China and at Proton in Malaysia outweighing robust sales in Brazil, Indonesia and The Philippines.
  • FY2008 full-year forecasts
    • Mitsubishi Motors leaves the fiscal 2008 first-half and full-year consolidated forecasts announced on April 25, 2007 unchanged.

    Source: Mitsubishi Motors Corporation

    If you are looking for Japanese used vehicles exporters, please visit : http://www.japanautopages.com/business_type/exporter.php

    Technorati tags:

    Mitsubishi Motors, Japanese Vehicles

    Posted in Worldwide, Japan, Sales, Vehicles, Mitsubishi | Comments Off

    Mitsubishi Motors announces production, sales and export figures for June 2008 and first six months of calendar 2008

    Wednesday, July 30th, 2008

    Mitsubishi Motors Corporation(MMC) today announced global production, as well as domestic sales and export figures for June 2008 and the first six months of calendar 2008.

    June 2008
  • Production: total and in Japan
    • Total global production came in at 108,603 units, a decline of 7.4 percent over June last year and marking the fourth consecutive monthly decrease. Production volume in Japan at 70,747 units was up 5.1 percent, the 21st consecutive month of year-on-year growth and marking a new record for June since Mitsubishi Motors spun off its truck and bus operations in 2003. This growth was driven principally by a 37.5 percent increase in output (15,587 units) of the new Outlander which continues to sell briskly in European and Chinese markets.
  • Sales in Japan
    • Vehicle sales in Japan in June totaled 15,705 units, a 12.3 percent decrease year-on-year and the 10th consecutive monthly decline since September 2007. Passenger car (registrations and mini-car) sales of 11,083 units and commercial vehicle sales of 4,622 units were 16.7 percent down and 0.4 percent up respectively on the same month last year. Total registered vehicle sales were 22.6 percent down year-on-year. Total mini-car sales volume was 6.4 percent down despite a 10 percent increase in Pajero Mini and 4 percent increase in Minicab sales.
  • Production overseas
    • Overseas production volume totaled 37,856 units, 24.3 percent down over June last year and the fourth consecutive monthly decline. By region, Asia came in with 26,150 units, a 23.8 percent decrease as a 29.3 percent increase in production in Indonesia (KRM*) on the back of healthy sales failed to offset a decrease in production of Proton models with MMC components at Proton in Malaysia. Production in Europe at 4,095 units showed a 25.9 percent decline over June last year as NedCar in The Netherlands geared up for the start of production of the new Outlander. Production in North America at 3,321 units was 44 percent down as production levels were adjusted for slow sales in the U.S. * KRM: P.T. Krama Yudha Ratu Motors
  • Export shipments from Japan
    • Total exports from Japan of 58,524 units were 7.6 percent up on June 2007, marking the 20th consecutive month of year-on-year increases and setting a new record for June since Mitsubishi Motors spun off its truck and bus operations in 2003. Exports to Asia at 4,575 units showed a robust 45.3 percent rise over the same period last year driven principally by shipments of the new Outlander to China. Exports to North America at 4,271 units showed a strong 29.2 percent year-on-year increase, driven in part by a 46 percent rise in sales fueled by the new Lancer in Canada. Exports to Europe at 26,651 units were 3.6 percent down on June 2007 as strong sales in Russia and The Ukraine failed to offset sales decrease in Western European countries due to CO2 emission tax related price rises elsewhere.
    January - June
  • Production: total and Japan
    • The first six months of calendar 2008 saw total global production of 691,163 units, just 0.4 percent down on the same period in 2007 and marking the first decline in three half-yearly terms. Production in Japan totaled 448,845 units, a 10.1 percent increase year-on-year, the third consecutive half-year rise and the highest level since the company spun off its truck and bus operations in 2003. This owed mainly to an 11.6 percent increase in passenger car (registrations) production that was driven chiefly by a 24.4 percent increase in output of the new Lancer for Russia, the Middle East and Africa and by a 24.1 percent increase in output of the new Outlander for Europe and China.
  • Sales in Japan
    • Vehicle sales on the Japanese market in the six month period totaled 107,220 units, 12.3 percent down over last year. Passenger car sales stood at 81,334 units, 13.0 percent down on the total for January - June 2007. Commercial vehicle sales declined 10.0 percent to 25,886 units over the same period last year. Total registered car sales declined 9.8 percent and minicar sales fell 13.6 percent.
  • Production overseas
    • In Asia production declined 17.3 percent over the corresponding period last year to 155,192 units due mainly to a decrease in production of Proton models with MMC components in Malaysia, this factor more than offsetting strong increases at MMPC (39.5 percent) in the Philippines and at KRM (130.2 percent) in Indonesia. In North America production for the period fell 22.7 percent year-on-year to 32,318 units impacted by sluggish sales. In Europe production at 30,270 units was 10.6 percent down as a result of slow Colt model sales and preparation for the start of production of the new Outlander.
  • Export shipments from Japan
    • Exports from Japan posted their third consecutive half-year increase and reached the highest level since the company spun off its truck and bus operations in 2003. Total shipments at 335,035 units were 20.9 percent up, with passenger cars 21.6 percent up at 327,804 units and commercial vehicles 3.6 percent down at 7,231 units. Shipments to Europe rose a strong 45.2 percent over the January - June 2007 period to 154,548 units, driven by strong sales in Russia and The Ukraine. Shipments to North America slipped 11.8 percent to 35,207 units as overall demand fell in the domestic U.S. market. Exports to Asia rose a healthy 33.5 percent year-on-year to a total of 25,015 units driven principally by shipments of the new Outlander to China.

    Source: Mitsubishi Motors Corporation

    If you are looking for Japanese used vehicles exporters, please visit : http://www.japanautopages.com/business_type/exporter.php 

    Technorati tags:

    Mitsubishi Motors, Japanese Vehicles

    Posted in Worldwide, Japan, Sales, Vehicles, Mitsubishi | Comments Off

    Eight JAMA Member Passenger Car Manufacturers to Celebrate the Pleasures of Driving and Vehicle Use

    Wednesday, July 30th, 2008

    The Japan Automobile Manufacturers Association (JAMA), under the chairmanship of Mr Satoshi Aoki, will be holding this November, for the first time ever, “Tokyo Motor Week,” a jointly sponsored event taking place at three popular spots in Tokyo and Yokohama and featuring eight JAMA member passenger car manufacturers.

    This event has been slated for the autumn season in consideration of the fact that the Tokyo Motor Show will not be held this year. That show—a gala gathering featuring the leading automakers from Japan and around the world and now held biennially in odd-numbered years—showcases to a global audience state-of-the-art vehicles and the latest advances in safety, environmental and other automotive technologies. The Tokyo Motor Show also offers to visitors the chance to test-ride vehicles and experience for themselves the fruits of technological innovation.Tokyo Motor Week will be a different kind of event, targeting consumers—and particularly younger people—who in recent years have shown less of an interest in cars than previously. Visitors will be able to interact with vehicles on display and information will be presented on technical and design advances that enhance the pleasures of driving and vehicle use.

    Tokyo Motor Week will be held at sites in Odaiba, Roppongi and Yokohama—three trendy spots to which people of all generations flock daily in large numbers. The eight passenger car manufacturers will be displaying a combined total of 48 units at these sites, and demonstrations will be keyed to a seasonal theme.

    Closely evaluating the feedback from visitors to this event, JAMA will continue to hold events celebrating the pleasures of automobile use in future non-Tokyo Motor Show years beginning in 2010.

    Source: Japan Automobile Manufacturers Association

    If you are looking for Japanese used vehicles exporters, please visit : http://www.japanautopages.com/business_type/exporter.php

    Technorati tags:

    Car Manufacturers, Automobiles

    Posted in Worldwide, Japan, Vehicles, Car | Comments Off

    Honda Vietnam’s cumulative production achieved 5 million- unit milestone

    Tuesday, July 29th, 2008

    Honda Vietnam Company (HVN) celebrates the 5th million motorcycle to be produced in the first Motorcycle plant. To be at the ceremony are Koji Onishi, General Director of HVN, many journalists, suppliers and whole staffs of the company. The 5th million unit marked HVN’s continuous effort for more than 12 years to meet the increasing demand of Vietnamese customers. In his speech at the ceremony, Koji Onishi, General Director of HVN said that “HVN products has met the demand of customers in terms of: high quality, safety, modern & fuel economy. This is not only the proud but also the reponsibility of HVN. I do believe that we can do better to satisfy customers”.

    For the recent years, HVN has continually applied the most advanced equipments of Honda in producing motorcycle models in Vietnam. By November 2006, in the First Motorcycle plant, the company had comprehensively modernized, upgraded production lines and put into manufacture many advanced machinery in order to meet the demand of raising the capacity from 800.000 unit/year to 1 million/year. Soon after that, in July 2007, HVN officially annnounced to broaden investing by building the second Motorcycle plant in Vietnam, which is supposed to focus on producing scooters and high class gear models. Carrying out those project, HVN desire to set a stable investment and well-developed business in Vietnam.

    Furthermore, in order to meet with the growing demands of the Vietnamese customers, HVN had recently reinforced its model line up by adding scooters like Air Blade and CLICK and more environmental friendly model like Future Neo with PGM FI (Honda Programmed Fuel Injection). 5 million units for more than 12 years at present is a repeatedly great achievement of HVN in the area and all over the world, which helps to push HVN to be ranked among the list of the topHondamotorcycle factories globally.

    Just within the first 6 months of this year, the company has had nearly 600,000 motorcycles delivered to the customers.

    On the strong, sound base of the already gained achievements, HVN will continue to strike the best to become a corporate citizen, a part of Vietnam society, to share a hand in building the country to get stable developments.

    Source: Honda Motor Co. Ltd.

    If you are looking for Japanese used vehicles exporters, please visit : http://www.japanautopages.com/business_type/exporter.php

    Technorati tags:

    Honda, Motorcycles

    Posted in Worldwide, Vietnam, Motorcycles, Honda, Vehicles | Comments Off

    Central Motor to Become Full TMC Subsidiary

    Tuesday, July 29th, 2008

    TOYOTA MOTOR CORPORATION (TMC) announced today that TMC and Central Motor Co., Ltd. (Central Motor) have signed a share exchange agreement by which Central Motor shall become a wholly owned subsidiary of TMC, each company having adopted a resolution approving the share exchange at a meeting of its board of directors held today.

    The decision was made to establish an even stronger relationship between TMC and Central Motor, to realize a more efficient production system for the Toyota Group, and to further improve quality and cost competitiveness, with an aim to generally strengthen the Toyota Group.

    In the midst of rapid changes in the automotive industry environment, TMC believes that immediate response to secure domestic human resources, diversify disaster risks and immediately respond to changes in demand is essential.  This is reflected by the Toyota Group’s policy to position Japan’s Tohoku region (in northeastern Japan) as its third domestic production base, in addition to production bases in the Chubu region (in central Japan) and in northern Kyushu (in southern Japan).

    Central Motor, after taking into consideration various factors such as the aged state of its head office plant, changes in the environs surrounding the company and distribution inefficiencies, has decided to move its head office plant to Miyagi Prefecture (in the Tohoku region), with the aim to start operations there in 2010.

    An outline of the method, timetable and share exchange ratio for Central Motor’s conversion to a full TMC subsidiary follows.

    Source: Toyota Motor Corporation

    If you are looking for Japanese used vehicles exporters, please visit : http://www.japanautopages.com/business_type/exporter.php 

    Technorati tags:

    Central Motor, Japanese Automotive

    Posted in Worldwide, Japan, Toyota | Comments Off

    « Previous Entries