Nissan may have made a turn, Volvo wants 2021 to be epics, and Honda. All this and more in The Morning Shift for February 9, 2021.
1st gear: Nissan sees results
The story of Nissan over the past year or two has been inextricably linked in the story of former CEO Carlos Ghosn, for understandable reasons, as the story involves a former Green Beret, private jets and musical instrument holders. IMeanwhile, those still at Nissan are trying to salvage what is left, which includes a major abolition of Nissan’s strategy under Ghosn, which has had everything to do with it.
They are starting to see results.
Of Bloomberg:
Japan’s second-largest carmaker forecast a net loss of 530 billion yen ($ 5.1 billion) for the year to March, narrower than the previously expected 615 billion yen. Nissan posted an operating profit of 27.1 billion yen for the three months to December. Analysts forecast an average loss of 46.8 billion yen.
Last quarter saw a recovery for the global automotive market as a whole, with retail sales rising in the U.S. last year and exceeding that in China, Nissan chief operating officer Ashwani Gupta said at a briefing on Tuesday. “We’re gaining momentum,” he said.
Nissan is embarking on an aggressive turnaround plan for about nine months, which will reduce its global production capacity by about a fifth and will thin out twelve new models in the 18 months to November to refresh its aging range and stagnate consumer interest.
Sales of new models such as the Rogue SUV, which launched in the US in October, showed higher, limiting the decline in total global sales of Nissan to less than 10% year-on-year in November and December, compared to with a more than 30% decline in the first half of 2020.
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Just as enjoyable as the Ghosn story was, I prefer Nissan to return to do what he does best, it’s every 10 years or so do something interesting.
2nd gear: Volvo takes a big turn in 2021
Volvo sold 661,713 cars last year, which is almost double the number of cars it sold in 2010. That’s less than the 800,000 Volvos. originally hoped to sell in 2020 before the pandemic took place, but these aspirations were only postponed until this year.
Of Motor News:
[Volvo Cars CEO Hakan Samuelsson] is optimistic because Volvo has had the best second half in its 93-year history and sold 391,751 vehicles worldwide during the last six months of 2020.
It started in 2021 with its best January ever with monthly global sales of 30 percent to 59,588 vehicles on strong demand from Europe (+9 percent), the US (+32 percent) and China (+91 percent). The big rise in China came as Volvo sales in January 2020 were hampered by the COVID-19 outbreak in the country.
Asked if 2021 would also be the year Volvo achieves its long-term goal of 800,000 global sales, Samuelsson was a little more cautious.
“We are continuing to grow strongly and let’s look at where we land,” he said.
For context, Tesla delivered almost 500,000 cars last year, while Toyota, the largest volume manufacturer in the world, delivered 9.5 million.
3rd gear: Honda also expects a big 2021
Things are getting normal again. I mean ‘normal’. I mean ” normal ”.
Of Reuters:
Honda reported a 67 percent profit increase in the most recent quarter due to higher demand and falling 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.
“The sales results for cars exceeded the same period as October last year, mainly due to the launch of the new N-ONE,” said Seiji Kuraishi, chief operating officer of Honda, at a press briefing, referring to the launch of the company’s mikostadsmotors in November in Japan. .
Honda increased its full-year fiscal profit forecast to 520 billion yen ($ 5 billion), compared to the 420 billion yen profit it forecast three months ago.
The N-One, if you’re not familiar, rules completely.
4th gear: I’m already tired of reading about this damn disc shortage
Reuters say that the shift card will cost Honda and Nissan a quarter of a million cars this year.
But Honda lowered its sales target on Tuesday by 100,000 vehicles, or 2.2%, to 4.5 million cars, while Nissan lowered its target by 150,000 vehicles, or 3.6%, to 4.015 million units due to a shortage to chips forced both companies to limit production.
“Popular models that sell well have been hit hard by the shortage of semiconductors,” Honda chief operating officer Seiji Kuraishi told an online news conference. ‘We had to swap and adjust production plans. But that was not enough, “he added.
The global automotive industry has been struggling since the end of last year with a shortage of chips, which in some cases is exacerbated by the former US government’s sanctions against Chinese chip factories.
The fact that some of the shortage of chips can be mapped directly to former President Donald Trump is the least surprising thing.
5th gear: more about Apple and Hyundai
Bloomberg has an interesting day-two story on the consequences of Apple and Hyundai’s agreement to build a car apparently falling apart. Ultimately, according to Bloomberg, it may be the best.
Although a lesson in how to play the big leagues, the Apple car experience could be a good thing for Chung and Hyundai, according to Kim Jin-woo, analyst at Korea Investment & Securities Co. , which Hyundai is considering a buy.
“Hyundai has the knowledge of how to manage supply chains with its experience of more than four decades,” Kim said. “The Apple News could have become a catalyst for stock prices, but Hyundai has developed its own projects for future mobility.”
Investors have already started listening. Shares in Hyundai Motor rose by nearly 60 percent in 2020, while stocks in Kia rose 41 percent – an impressive result in a year many carmakers would rather forget because the coronavirus pandemic outweighs sales. Hyundai rose 2 percent on Tuesday, rising 24.5 percent since January.
Kia rebranded last month with a new, slimmer logo, deleted its oval badge and announced a fresh slogan ‘Movement that inspires’ to replace its older ‘Power to surprise’ mantra.
“Hyundai’s ultimate goal is not to become an Apple car supplier,” said Kim Joon-sung, an analyst at Meritz Securities Co. in Seoul, which Hyundai is also considering a buy. “That would be the next Tesla.”
A partnership with Apple sounds nice on paper and may offer a short-term rise in the share price, but the real work of doing the damn thing seems like a big lift if you can spend the time doing your own thing. to make.
Reverse: There was a war on
Neutral: how are you?
I can not find a useful cut of it online for my entire life, but George Clooney climbs into a taxi at the end of Michael Clayton.
“Do not drive.”