Nissan may have turned a corner, Volvo wants 2021 to be epic, and Honda. All this and much more in Morning change for February 9, 2021.
First step: Nissan sees results
Nissan’s story of the last year or two has been inextricably linked the story of former CEO Carlos Ghosn, for reasons of understanding, as the story involves a former green beret, private jets and musical instrument boxes. IMeanwhile, those still at Nissan are trying to save what’s left, which includes a vast cut from Nissan’s strategy under Ghosn, which was all about volume.
They’re starting to see results.
Din Bloomberg:
Japan’s second-largest carmaker forecast a net loss of 530 billion yen ($ 5.1 billion) for the year to March, lower than previously expected 615 billion yen. Nissan posted an operating profit of 27.1 billion yen for the three months to December. Analysts predicted an average loss of 46.8 billion yen.
Last quarter saw a recovery for the global car market as a whole, with retail sales reaching previous year’s levels in the US and surpassing them in China, Nissan Chief Operating Officer Ashwani Gupta said in a briefing on Tuesday. “We’re gaining momentum,” he said.
Nissan is in an aggressive plan of about nine months, which involves reducing its overall production capacity by about a fifth and producing 12 new models in the 18 months to November to refresh its aging line and cause stagnation. consumer interest.
Sales of new models such as the Rogue SUV, which debuted in the US in October, saw higher growth, limiting Nissan’s overall sales decline to less than 10% from the previous year in November and December, compared to a Decrease by 30% in the first half of 2020.
G / O Media may receive a commission
As fun as Ghosn’s story was, I’d rather Nissan go back to what it does best, which is every 10 for some years something interesting.
Speed 2: Volvo makes a big change in 2021
Volvo sold 661,713 cars last year, almost double the number of cars it sold in 2010. That number is less than 800,000 Volvo initially hoping to sell in 2020 before the pandemic, but these aspirations have only been postponed until this year.
Din Car news:
[Volvo Cars CEO Hakan Samuelsson] is optimistic, as Volvo has had the best second half of its 93-year history, selling 391,751 vehicles worldwide in the last six months of 2020.
It started in 2021, having the best January of all time, with global monthly sales up 30%, to 59,588 vehicles in strong demand from Europe (+ 9%), USA (+ 32%) and China (+ 91%). The big increase in China came as Volvo’s January 2020 sales were slowed by the country’s COVID-19 outbreak.
When asked if 2021 will be the year in which Volvo reaches its long-term goal of 800,000 global sales, Samuelsson was a little more cautious.
“We’re looking at strong continued growth and seeing where we land,” he said.
For context, Tesla delivered nearly 500,000 cars last year, while Toyota, the world’s largest carmaker by volume, delivered 9.5 million.
Third step: Honda also expects a big 2021
Things are back to normal. That is, “normal.” That is, “normal.”
Din Reuters:
Honda reported a 67% increase in profit in the last quarter due to lower demand and costs.
Operating profit for the three months to December 31 was 277.7 billion yen ($ 2.65 billion), Honda said in a statement on Tuesday.
“Car sales results exceeded the same period last October, mainly due to the launch of the new N-ONE,” Seiji Kuraishi, Honda’s chief operating officer, said in a press briefing, referring to the launch of the micro-company. -cities in Japan in November.
Honda raised its full-year profit tax forecast to 520 billion yen ($ 5 billion), up from the 420 billion yen profit it had predicted three months ago.
N-One, if you’re not familiar, governs completely.
Step 4: I’m already very tired of reading about this damn lack of chips
Reuters say that lack of chips will cost Honda and Nissan a quarter of a million cars this year.
But Honda reduced its sales target by 100,000 vehicles on Tuesday, or 2.2%, to 4.5 million cars on Tuesday, while Nissan lowered its target by 150,000 vehicles, or 3.6%. , up to 4.015 million units, as the lack of chips forced both companies to reduce production.
“Popular models that sell well have been hit hard by the lack of semiconductors,” said Seiji Kuraishi, Honda’s chief operating officer, during an online press briefing. “We had to change and adjust production plans. But that was not enough, “he added.
The global auto industry has been facing a shortage of chips since the end of last year, which in some cases has been exacerbated by former US administration sanctions on Chinese chip factories.
The fact that part of the lack of chips can be directly associated with former President Donald Trump is the least surprising thing.
5th Gear: More about Apple and Hyundai
Bloomberg has an interesting two-day story about the ramifications of the Apple and Hyundai agreement to build a car apparently falling apart. In the end, Bloomberg concludes, this could be the best.
While it’s a lesson in how to play the big leagues, Apple’s car experience may prove to be a good thing for Chung and Hyundai, focusing their ambitions again, according to Kim Jin-woo, an analyst at Korea Investment & Securities Co. , which evaluates Hyundai a purchase.
“Hyundai has the knowledge on how to manage supply chains with its experience of over four decades,” said Kim. “Apple news could have become a catalyst for stock prices, but Hyundai has developed its own projects for future mobility.”
Investors have already begun to listen. Shares of Hyundai Motor grew by almost 60% in 2020, while shares of Kia rose by 41% – an impressive result in a year, many carmakers would prefer to forget, as the coronavirus pandemic has impacted sales. Hyundai gained 2% on Tuesday, bringing January gains to 24.5%.
Kia last month changed to a new, sleeker logo, removing the oval-shaped badge and announcing a fresh “Inspiring Movement” slogan to replace its old “Power to Surprise” mantra.
“Hyundai’s ultimate goal is not to become a supplier of Apple cars,” said Kim Joon-sung, an analyst at Meritz Securities Co. from Seoul, which also rates Hyundai as a buyer. “He wants to be the next Tesla.”
A partnership with Apple sounds nice on paper and could ensure a short-term rise in the stock price, but the real work of doing the shit seems like a big increase, when you could spend that time doing your own thing.
Reverse: It was a fierce war
Neutral: How are you?
I can’t find a clip that can be used online for my life, but today’s disposition is for George Clooney to get into a taxi at the end of Michael Clayton.
“Just drive.”