Arab Today, arab today toyota flags industry concerns
Last Updated : GMT 05:49:56
Arab Today, arab today
Arab Today, arab today

Toyota flags industry concerns

Arab Today, arab today

Arab Today, arab today Toyota flags industry concerns

Tokyo - Arabstoday

Toyota Motor president Akio Toyoda said the appreciating yen, the European debt crisis and a slowing US economy are among concerns facing Japan’s car industry. “In the short run, the European economy and a possible slowdown in the US are a concern,” though he’s optimistic on the outlook for the year, Toyoda, speaking as chairman of the Japan Automobile Manufacturers Association, told reporters in Tokyo on Tuesday. The yen is also a “major concern”, he said. Japan’s three-biggest carmakers have surrendered most of their January-to-March stock gains as concerns about the European debt crisis pushed up the value of the Japanese currency since mid-March. The yen, the worst-performing major currency in the first quarter, is the best performer this quarter, according to data compiled by Bloomberg. Toyoda said he’s still optimistic for the year as consumers replace their vehicles. Toyota is forecasting group sales to climb 21 per cent to a record 9.58 million vehicles in 2012 after natural disasters in Japan and Thailand hobbled production last year.“In Europe, where vehicle ownership is already very high, the cycle that drivers replace their old cars may slow down, but measures to avoid a major slowdown in the replacement cycle are taken in each country,” Toyoda said. “In emerging markets, demand itself is growing, so volume itself will still grow.” Six major headwinds In the US, light-vehicle sales in May ran at a 13.8 million seasonally adjusted annualised rate, according to data compiled by Autodata last week. The pace missed the 14.4 million average estimate of 14 analysts surveyed by Bloomberg and slid below 14 million for the first time this year. Toyoda said Japanese carmakers face six major headwinds in the longer term: the strong domestic currency, stricter fuel-emission standards, lack of trade partnerships, high corporate taxes, heavy taxation on car purchases, and unstable power supply. Asked about unprofitable Renesas Electronics, the world’s biggest maker of automotive chips, Toyoda said Japanese carmakers have been in talks with the nation’s semiconductor companies to avoid supply disruptions as in the wake of last year’s March 11 earthquake and tsunami. Renesas, which has never posted a profit since it was reorganised in 2010, is planning an overhaul that may involve 10,000 job cuts, a person briefed on the matter said on May 25. “The auto industry needs to seriously think and hold further close discussions with the Japanese semiconductor industry,” Toyoda said, without naming any chipmakers. On concerns over Europe, Toyoda said the downturn in the financial markets has preceded actual sales results. China demand “In reality, compared with the world of finance, there is a slight gap in the timing of when things occur,” Toyoda said. “For there to be any impacts in the real world, it takes time, unlike information, which comes in a very timely manner.” On China, Toyoda said demand may rebound in the longer term. “Though there is concern over the Chinese economy’s outlook, there is still sustainable growth in China, and the buyers are spreading to the middle class,” he said.from gulf news.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today toyota flags industry concerns Arab Today, arab today toyota flags industry concerns

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today toyota flags industry concerns Arab Today, arab today toyota flags industry concerns

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Auto: أخبار السيارات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday