"The industry is chronically saddled with excess supply, making it difficult to generate a profit," a Honda executive says of the challenge in Europe.Nissan Motor Co. slipped into the red for the first time in seven quarters, logging a 1.3 billion yen (US$16.2 million) loss. Despite relatively strong sales, the company was unable to fully absorb the yen's appreciation against the ruble.
Mitsubishi Motors Corp. suffered a loss in Europe as well. Toyota Motor Corp. was the only one to report improved results.
As a group, the six companies -- which also includes Mazda Motor Corp. and Suzuki Motor Corp. -- generated an operating profit of 4.3 billion yen, roughly a third of the tally from the July-September quarter.