Nissan Motor Co., Ltd. and PT. Nissan Motor Indonesia will present the “NISSAN TECHNOLOGY SQUARE” event at the Kelapa Gading Mall in Jakarta, Indonesia. The public automotive technologies showcase opens today and runs through August 25.

Indonesia is the second market where we hold this event. After completing its run in Indonesia, the Nissan Technology Square will visit several cities in multiple markets, including Singapore, Malaysia and India, etc.

At the Nissan Technology Square, Nissan will showcase how the company’s automotive technologies address the environment, safety and innovation. Visitors can experience examples of Nissan’s innovation and the future of automobiles through the exhibition, interactive displays and demonstrations.

Nissan chose PIVO2, an environmentally focused, electric urban commuter, as a key communications character for the event. First presented as one of the key concept vehicles at the 2007 Tokyo Motor Show, the vehicle embodies “friendly innovation” to create a new car-driver relationship. As such, PIVO2 serves as an ideal focal point for the Nissan Technology Square, where a quarter scale model of the vehicle will be displayed.

“All of our technologies promise consumers the pleasure of driving based on trust in our environmental, safety and quality technologies — what we call “Trusted Driving Pleasure,” said Mitsuhiko Yamashita, Nissan Executive Vice President. “We hope to deliver our passion for products through the real-world technologies and innovations we build into every Nissan vehicle.”

As part of Nissan’s commitment to supporting education, the event will be held in collaboration with local schools. Hideyuki Sakamoto, Nissan Corporate Vice President, will visit and talk with students about automotive technology, Nissan’s technical development activities and the latest technologies.

The Nissan Technology Square is part of the company’s ongoing communications outreach across Asia, which started with the successful Design Forum in 2007.

Source: Nissan Motor Co. Ltd.

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HIROSHIMA, Japan—Mazda Motor Corporation has announced that orders for the new Mazda Biante minivan were more than double the sales target in its first month of sales. Orders have surpassed 6,000 units since the Biante was launched in Japan on July 8, 2008.

Mazda Biante 20S
(FWD model with 2.0-liter direct injection engine, five-speed automatic transmission and factory-installed options)

To date, 90 percent of orders have been for models equipped with the 2.0-liter direct injection engine. Approximately 65 percent of customers have opted for the 20S grade, followed by 26 percent who chose the 20CS grade and 9 percent who selected the 23S. While most customers who selected the Biante have families and are in their 30s and 40s, orders have been placed by a wide range of people. Customer feedback indicates that the main reasons for choosing the Biante are its exterior design, spacious interior^*1 and quiet cabin. The flexible seat arrangements that include a ‘living mode’ (which enables the seats to be adjusted backwards to maximize interior space), the excellent dynamic stability, and the Biante’s affordability (due to regular gasoline being the recommended fuel^*2) were also highlighted.
The most popular exterior colors have been the featured Lilac Silver Metallic, Brilliant Black and Crystal White Pearl Mica, which together make up 70 percent of orders. The most preferred factory-installed options have been the power sliding doors with leather-wrapped steering wheel and shift knob, selected by 90 percent of customers; the Clean Air package^*3, chosen by 70 percent of customers; and the Comfort package^*4, chosen by 60 percent of customers.

Source: Mazda Motor Corporation

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Mitsubishi Motors Corporation (MMC) announced today that it has signed a letter of intent with Southern California Edison (SCE) to forge a unique collaboration for testing and evaluation of the new i MiEV electric vehicle.

According to Tohru Hashimoto, Corporate General Manager of the i MiEV Business Promotion Office of Mitsubishi Motors Corporation, “The small, four-passenger Mitsubishi i MiEVs will enter into SCE’s nationally-recognized prototype testing and evaluation program. This collaboration with one of the nation’s leading utility supporters of electric vehicles will provide us technical feedback on i MiEV vehicle and battery performance, as well as vehicle connection and integration into the electrical system.”

Extensive testing with the i MiEV has been occurring over the past two years with seven major utility companies in Japan. The success of these programs quickened the pace and prompted Mitsubishi Motors to begin selling the electric vehicle in the Japan market in summer of 2009.

The rise in interest for electric vehicles and other alternative-fuel propulsion systems is dramatically shaping the way automakers and utility companies are approaching the opportunity. Through this program, SCE hopes to help Mitsubishi Motors gauge how electric vehicles will most effectively connect to the smart grid of the future and the next generation Edison SmartConnect^TM advanced meters. In addition, the collaboration may explore future requirements for vehicle communication and connection, helping enable new customer values associated with home energy management and control.

“Southern California Edison has more than 20 years and 16 million EV miles of experience operating the nation’s largest private fleet of electric vehicles,” said Edward Kjaer, SCE’s director of electric transportation. “This new EV collaboration with Mitsubishi complements SCE’s existing work on plug-in hybrids and next-generation advanced batteries and their effective connection and control by Edison’s next-generation meters”

The i MiEV electric vehicle, which is based on Mitsubishi’s “i” gasoline-powered mini car on sale in Japan, adapts a zero-emissions state-of-the-art electric drivetrain. A durable 330-volt lithium-ion battery system is located under the floor deck and powers a permanent magnet electric motor. With this packaging, the i MiEV is able to offer the same level of interior utility and space as the gasoline version while lowering the center of gravity for more stable handling. The 47 kW electric motor offers improved performance and quicker acceleration over the 64-hp gasoline version.

The advanced lithium-ion battery is developed by the Mitsubishi Motors Corporation / Mitsubishi Corporation / GS Yuasa joint venture company, Lithium Energy Japan. LEJ represents the leading edge in battery technology and promises up to 100 miles^*1 of zero-emissions, economical driving on a single charge when packaged in the i MiEV.

Source: Mitsubishi Motors Corporation

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Mitsubishi Motors Corporation (MMC) announced today that it has signed a letter of intent with Pacific Gas and Electric Company (PG&E) covering the use of MMC’s zero-emissions i MiEV electric vehicle for research and demonstration purposes.

According to Tohru Hashimoto, Corporate General Manager of the i MiEV Business Promotion Office of Mitsubishi Motors Corporation, “We are hoping for the opportunity to introduce the small, four-passenger Mitsubishi i MiEV to PG&E’s fleet in the fourth quarter of this year so that we can begin real-world U.S. testing. The joint partnership will yield valuable data and a greater appreciation of the practicality of an all-electric vehicle in California.”

Extensive testing with the i MiEV has taken place over the past two years with seven major utility companies in Japan. The success of these programs quickened the pace and prompted Mitsubishi Motors to begin selling the electric vehicle in the Japan market in summer of 2009.

Through daily use, PG&E will gauge the viability of utilizing all-electric vehicles in its operations and further understand the impact of charging electric vehicles on the electric grid. The testing will provide PG&E and Mitsubishi Motors with vehicle usage data, which will be used to publicly demonstrate and validate the many benefits of dedicated electric vehicles within the California market.

“PG&E has been researching the benefits of electric vehicles since the nineties. Partnering with automakers like Mitsubishi is vital to developing compatible infrastructures to support electric vehicles in the marketplace and ensure responsible integration with the grid,” said Andrew Tang, senior director of smart energy web for PG&E. “By working with Mitsubishi, we will both benefit from a free exchange of electric vehicle information that includes charging infrastructure availability, vehicle data, vehicle commercialization expectations and public feedback.”

The i MiEV electric vehicle, which is based on Mitsubishi’s “i” gasoline-powered mini car on sale in Japan, adapts a zero-emissions state-of-the-art electric drivetrain. A durable 330-volt lithium-ion battery system is located under the floor deck and powers a permanent magnet electric motor. With this packaging, the vehicle offers the same level of interior utility and space as the gasoline version while lowering the center of gravity for more stable handling. The 47 kW electric motor offers improved performance and quicker acceleration over the 64-hp gasoline version.

The advanced lithium-ion battery is developed by Mitsubishi Motors Corporation / Mitsubishi Corporation / GS Yuasa joint venture company, Lithium Energy Japan. LEJ represents the leading edge in battery technology and promises up to 100 miles^*1 of zero emissions, economical driving on a single charge when packaged in the i MiEV.
Source: Mitsubishi Motors Corporation

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Tokyo — TOYOTA MOTOR CORPORATION (TMC) today announced operating results for the first quarter ended June 30, 2008.

On a consolidated basis, net revenues for the first quarter totaled 6.22 trillion yen, a decrease of 4.7 percent compared to the same period last fiscal year.  Operating income decreased 38.9 percent to 412.5 billion yen, while income before income taxes, minority interest and equity in earnings of affiliated companies was 453.0 billion yen.  Net income decreased by 28.1 percent to 353.6 billion yen.

Operating income decreased by 262.9 billion yen, mainly due to the impact of exchange rate fluctuations, such as the appreciation of the yen against the US dollar.  The sharp increase of raw material prices exceeded cost reduction efforts by 10.0 billion yen.  These negative results surpassed the positive contributions from marketing efforts.  Equity in earnings of affiliated companies increased by 13.2 billion yen to 95.0 billion yen, mainly due to continued strong results of joint venture companies in China.

Commenting on the results, Mitsuo Kinoshita, TMC Executive Vice President, said, “The financial results for this quarter were severe, due to our rapidly changing business environment, including exchange rates fluctuation such as the rise of the yen against the US dollar and soaring raw material prices.”

Consolidated vehicle sales for the first quarter amounted to 2.19 million units, an increase of 24 thousand units compared with the same period last fiscal year.

In Japan, vehicle sales increased by 12 thousand units, to 512 thousand units.  Vehicle sales in the domestic market increased due to strong sales of new models including the Crown and the Alphard/Vellfire.  Export volume also increased due to strong demand in markets such as Russia, Australia and the Middle East.  However, due to negative impacts such as exchange rate fluctuation including the yen appreciation against the US dollar, operating income decreased by 179.5 billion yen, to 217.1 billion yen.

Vehicle sales in North America totaled 729 thousand units, a decrease of 33 thousand units.  Operating income decreased by 91.1 billion yen, to 69.1 billion yen including 67.5 billion yen of valuation profit on interest rate swap transactions.  Although the US market, primarily the truck segment, is slowing down, Toyota earned a record high market share of 17.4 percent for this quarter.  However, decrease in sales volume, the shift of product mix to compact cars, increase in sales expenses such as incentives and increase in reserves for bad debts, resulted in declining profits.  Toyota will take swift actions in accordance with market changes by increasing the supply of models in high demand and launching new models.

In Europe, sales decreased by 32 thousand units, to 301 thousand units.  Operating income decreased by 18.2 billion yen, to 20.3 billion yen.  Total vehicle sales decreased, despite strong sales in Russia and Eastern Europe, due to slowdown in Western European markets.  Toyota will launch new models that will continue to meet regional standards of CO2 regulations later this year and into next year to boost sales and generate profit.

Sales in Asia increased by 40 thousand vehicles to 262 thousand vehicles.  Operating income in the region increased by 19.7 billion yen, to 69.3 billion yen.  The successful launch of the remodeled Corolla early this year, the steady sales volume increase in the region, especially in Indonesia, and the increase in export volume due to continued strong demand of the IMV in regions outside of Asia, contributed to Asia’s operating income growth.

In Central and South America, Oceania and Africa, sales reached 382 thousand vehicles, an increase of 37 thousand units.  Operating income totaled 44.5 billion yen, an increase of 5.9 billion yen.  In Brazil, the remodeled Corolla launched this March, and the sales volume as a whole increased by approximately 30 percent compared to the last first quarter.  Sales in Australia and Argentina remained brisk.

In the financial services segment, operating income increased by 30.8 billion yen, to 79.1 billion yen compared to the last first quarter including 55.5 billion yen of valuation profit on interest rate swap transactions.  Excluding this valuation profit, operating income decreased by 21.8 billion yen.  Although the expansion of lending margins contributed to the increase in profit, higher percentage of credit losses in the US as well as the increase in reserves for bad debt and residual value losses resulting from decline of used car prices, were the main reasons for the decreased profit.  However, with Toyota’s traditionally prudent approach in lending, together with its efforts to further strengthen the credit control and collection system, the percentage of credit losses has shown some stability.  As for residual values, Toyota will continue to keep a close eye on the used car market and set suitable values in a timely manner.

TMC estimates that the projected consolidated vehicle sales for the fiscal year ending March 31, 2009 will be 8.74 million units.  Unconsolidated vehicle sales, such as those in China are expected to increase by approximately 170 thousand units.  As a result, the total of consolidated and unconsolidated vehicles sales are expected to be the same level as the last first quarter.  Toyota’s consolidated revenues and earnings forecast for the fiscal year remain unchanged, with consolidated net revenues of 25.0 trillion yen, operating income of 1.60 trillion yen and net income of 1.25 trillion yen.

Source: TOYOTA MOTOR CORPORATION

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