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Fri, 21 November 2014 20:55:51
Japanese car makers struggle to turn profits in Europe
28 Feb, 2012 16:42:56
TOKYO, Feb 28 (Asia Pulse) - Four of Japan's leading automakers posted losses in their European operations for the October-December quarter, with the fallout from the region's ongoing debt crisis shrinking the market for new cars.
Honda Motor Co. sustained the biggest operating loss at 3.8 billion yen (US$47.3 million), marking its sixth straight quarter in the red.

"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.

(Nikkei)

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