Honda Motor Co., Japan’s second- largest carmaker, may raise about 100 billion yen ($1 billion) by selling asset-backed securities or commercial paper to fund car loans as it expects demand to recover later this year.
The credit environment “has changed dramatically,” said Executive Vice President Koichi Kondo in an interview yesterday, adding that the funds would also be used to repay debt. Interest rates “may be the cheapest we’ve ever borrowed at.”
Honda expects global vehicle sales to rise to 1.65 million units in the second half of the year ending in March, compared with 1.55 million units in the first half. More people buying cars will require more money available for loans, Kondo said.
“If you don’t need to borrow, that means things are looking bad,” he said.
In the first five months of the year, Tokyo-based Honda’s sales in the U.S., its biggest market, plunged 34 percent as higher unemployment deterred buyers. In Japan, sales have dropped 16 percent. The company’s new Insight hybrid helped it withstand a 29 percent industrywide sales decline in its home market during the period.
Honda’s fundraising plan would follow the company’s sale of 70 billion yen in three-year bonds on June 4, its first bond issue in 16 years. Rival Toyota Motor Corp., Japan’s biggest carmaker, also plans to increase a planned bond sale 63 percent to about 130 billion yen, according to two bankers familiar with the deal. Sony Corp. earlier this week raised 220 billion yen in its biggest-ever bond sale.
“Automakers want to make sure that they secure funds when they can by as much as they can,” said Yoshihiro Okumura, who helps oversee the equivalent of $365 million at Tokyo-based Chiba-gin Asset Management Co. “The borrowing environment is now much easier.”
Showing posts with label Japan Automotive. Show all posts
Showing posts with label Japan Automotive. Show all posts
Sunday, June 14, 2009
Thursday, June 4, 2009
Best Selling Car May 2009 of Japan: 2010 Toyota Prius Hybrid
Toyota Motor Corp's Prius hybrid was Japan's best-selling car in May, a dealers' group said on Thursday, attesting to robust demand for low-emission cars helped by government incentives amid flagging auto sales.
Competition is also heating up between automakers as the Prius, of which a new model hit the market last month, grabbed the top slot for the first time after Honda Motor Co's new Insight became the first hybrid to head the best-seller list in Japan in April.
"I think a green car tax break and other incentives helped the sales performance (of the Prius) quite a bit," Akihiko Otsuka, chief engineer for the new Prius, told reporters in Toyota City, home to the automaker.
The third-generation model Prius, which went on sale on May 18, was priced about $3,000 less than the previous version and there were more than 80,000 advance orders for it.
Toyota said on its web site that factory shipment would be mid-November or later for orders made after May 31.
"The Popularity of hybrid cars will undoubtedly continue as their prices have come down to affordable levels and will be more so in coming models," said Kazutaka Oshima, CEO of Rakuten Investment Management. "In addition, oil prices have been rising again lately," he said.
A ranking of Japan's top 30 excluding 660cc minivehicles by the Japan Automobile Dealers Association showed the Prius selling 10,915 cars in May, followed by Honda's Fit compact with sales of 8,859 cars. The Insight was in third place with 8,183 cars.
Gas-sipping hybrid cars have become a rare bright spot in an industry hit hard by recession, and Toyota and Honda are locked in a fierce battle in the category.
But some analysts have pointed to a growing challenge for Toyota to strike a balance with sales of gasoline cars, which have higher profit margins.
+ 2010 Toyota Prius Hybrid Tax Credit is Good!
+ 2010 Prius Hybrid Sales is a Bright Spot in Gloomy Market
+ Prius vs. Insight: Better and Wores
The 2010 Hybrid line-up has a great outlook and some meaningful gas savings for consumers.
Gallery: 2010 Toyota Prius Hybrid
Competition is also heating up between automakers as the Prius, of which a new model hit the market last month, grabbed the top slot for the first time after Honda Motor Co's new Insight became the first hybrid to head the best-seller list in Japan in April.
"I think a green car tax break and other incentives helped the sales performance (of the Prius) quite a bit," Akihiko Otsuka, chief engineer for the new Prius, told reporters in Toyota City, home to the automaker.
The third-generation model Prius, which went on sale on May 18, was priced about $3,000 less than the previous version and there were more than 80,000 advance orders for it.
Toyota said on its web site that factory shipment would be mid-November or later for orders made after May 31.
"The Popularity of hybrid cars will undoubtedly continue as their prices have come down to affordable levels and will be more so in coming models," said Kazutaka Oshima, CEO of Rakuten Investment Management. "In addition, oil prices have been rising again lately," he said.
A ranking of Japan's top 30 excluding 660cc minivehicles by the Japan Automobile Dealers Association showed the Prius selling 10,915 cars in May, followed by Honda's Fit compact with sales of 8,859 cars. The Insight was in third place with 8,183 cars.
Gas-sipping hybrid cars have become a rare bright spot in an industry hit hard by recession, and Toyota and Honda are locked in a fierce battle in the category.
But some analysts have pointed to a growing challenge for Toyota to strike a balance with sales of gasoline cars, which have higher profit margins.
+ 2010 Toyota Prius Hybrid Tax Credit is Good!
+ 2010 Prius Hybrid Sales is a Bright Spot in Gloomy Market
+ Prius vs. Insight: Better and Wores
The 2010 Hybrid line-up has a great outlook and some meaningful gas savings for consumers.
Gallery: 2010 Toyota Prius Hybrid
Wednesday, June 3, 2009
US Auto Incentives May.2009: Japanese Automaker (Honda,Nissan,Toyota) Hit New Record
Proof that the U.S. car market is in chaos: two automakers in bankruptcy are generating huge interest from car shoppers; Japanese automakers are spending record amounts on incentives, and luxury-maker Mercedes-Benz was the highest incentive spender of all brands in May.
"The industry is chaotic right now and every automaker is struggling to find something that works," stated Jesse Toprak, executive director of Industry Analysis for Edmunds.com. "Many of the bankrupt brands are drawing an impressive amount of attention from bargain-hunters, but the rest of the automakers have their work cut out for them."
As auto company sales reports poured in Tuesday, Edmunds.com estimated the average automotive manufacturer incentive in the U.S. was $2,946 per vehicle sold in May, down $111, or 3.6 percent, from April, and up $622, or 26.8 percent, from May 2008.
Combined incentives spending for domestic manufacturers averaged $3,766 per vehicle sold in May, down from $3,990 in April.
From April to May, Japanese automakers increased incentives spending by $171 to $1,907 per vehicle sold, setting a new record as a group. Individually, Honda and Nissan set new records for incentive spending.
Also from April to May, European automakers increased incentives spending by $214 to $3,823 per vehicle sold; ; and Korean automakers decreased incentives spending by $533 to $2,894 per vehicle sold.
Among vehicle segments, premium sport cars had the highest average incentives, $6,865 per vehicle sold, followed by large SUVs at $4,267. Subcompact cars had the lowest average incentives per vehicle sold, $1,096, followed by compact cars at $2,117.
Analysis of incentives expenditures as a percentage of average sticker price for each segment shows large cars averaged the highest, 13 percent, followed by large trucks at 12.4 percent of sticker price. Premium luxury cars averaged the lowest at 4.6 percent and subcompact cars followed at 6.9 percent of sticker price.
The large truck segment is a particularly interesting case. In a story entitled "Take My Pick-Up -- Please," Edmunds' AutoObserver.com Editor Bill Visnic recently reported, "The economic meltdown and $4 gasoline conspired to make 2008 a lousy year for large pickups, but the shriveled numbers for 2009 are making last year's sales look like a comparative bonanza."
Comparing all brands, in May Scion spent $225 followed by Mini at $582 per vehicle sold. At the other end of the spectrum, Mercedes-Benz spent the most, $6,069, followed by Hummer at $5,902 per vehicle sold.
Relative to their vehicle prices, Pontiac and Saturn spent the most, 16.7 percent and 15.5 percent of sticker price, respectively. General Motors is winding down the Pontiac brand by year-end. The future of Saturn remains unknown as GM negotiates with potential buyers about the brand.
In contrast and as has been typical, Toyota's Scion spent 1.3 and BMW's Mini spent 2.7 percent.
Edmunds.com's monthly True Cost of Incentives report takes into account all automakers' various U.S. incentives programs, including subvented interest rates and lease programs, as well as cash rebates to consumers and dealers. To ensure the greatest possible accuracy, Edmunds.com bases its calculations on sales volume, including the mix of vehicle makes and models for each month, as well as on the proportion of vehicles for which each type of incentive was used.
* Denotes a record
"The industry is chaotic right now and every automaker is struggling to find something that works," stated Jesse Toprak, executive director of Industry Analysis for Edmunds.com. "Many of the bankrupt brands are drawing an impressive amount of attention from bargain-hunters, but the rest of the automakers have their work cut out for them."
As auto company sales reports poured in Tuesday, Edmunds.com estimated the average automotive manufacturer incentive in the U.S. was $2,946 per vehicle sold in May, down $111, or 3.6 percent, from April, and up $622, or 26.8 percent, from May 2008.
Combined incentives spending for domestic manufacturers averaged $3,766 per vehicle sold in May, down from $3,990 in April.
From April to May, Japanese automakers increased incentives spending by $171 to $1,907 per vehicle sold, setting a new record as a group. Individually, Honda and Nissan set new records for incentive spending.
Also from April to May, European automakers increased incentives spending by $214 to $3,823 per vehicle sold; ; and Korean automakers decreased incentives spending by $533 to $2,894 per vehicle sold.
Among vehicle segments, premium sport cars had the highest average incentives, $6,865 per vehicle sold, followed by large SUVs at $4,267. Subcompact cars had the lowest average incentives per vehicle sold, $1,096, followed by compact cars at $2,117.
Analysis of incentives expenditures as a percentage of average sticker price for each segment shows large cars averaged the highest, 13 percent, followed by large trucks at 12.4 percent of sticker price. Premium luxury cars averaged the lowest at 4.6 percent and subcompact cars followed at 6.9 percent of sticker price.
The large truck segment is a particularly interesting case. In a story entitled "Take My Pick-Up -- Please," Edmunds' AutoObserver.com Editor Bill Visnic recently reported, "The economic meltdown and $4 gasoline conspired to make 2008 a lousy year for large pickups, but the shriveled numbers for 2009 are making last year's sales look like a comparative bonanza."
Comparing all brands, in May Scion spent $225 followed by Mini at $582 per vehicle sold. At the other end of the spectrum, Mercedes-Benz spent the most, $6,069, followed by Hummer at $5,902 per vehicle sold.
Relative to their vehicle prices, Pontiac and Saturn spent the most, 16.7 percent and 15.5 percent of sticker price, respectively. General Motors is winding down the Pontiac brand by year-end. The future of Saturn remains unknown as GM negotiates with potential buyers about the brand.
In contrast and as has been typical, Toyota's Scion spent 1.3 and BMW's Mini spent 2.7 percent.
Edmunds.com's monthly True Cost of Incentives report takes into account all automakers' various U.S. incentives programs, including subvented interest rates and lease programs, as well as cash rebates to consumers and dealers. To ensure the greatest possible accuracy, Edmunds.com bases its calculations on sales volume, including the mix of vehicle makes and models for each month, as well as on the proportion of vehicles for which each type of incentive was used.
|
| |||
| Automaker | May 2009 | April 2009 | May 2008 |
| Chrysler Group (Chrysler, Dodge, Jeep) | $4,159 | $4,383 | $3,630 |
| Ford (Ford, Lincoln, Mercury, Volvo) | $3,570 | $3,618 | $3,190 |
| General Motors (Buick, Cadillac, Chevrolet, | $3,783 | $4,107 | $3,309 |
| Honda (Acura, Honda) | $1,626* | $1,480 | $1,145 |
| Hyundai (Hyundai, Kia) | $2,894 | $3,427 | $1,973 |
| Nissan (Infiniti, Nissan) | $2,790* | $2,767 | $1,989 |
| Toyota (Lexus, Scion, Toyota) | $1,755 | $1,634 | $1,034 |
| Industry Average | $2,946 | $3,057 | $2,324 |
Monday, June 1, 2009
May 2009 Auto Sales: Japan Cars, Trucks and Buses Sales Down 19%
2009 May auto sales figures: New vehicle sales in Japan fell 19.4 percent in May from a year ago, sliding for a 10th straight month, an industry group said, but the decline eased from recent months.
New sales of cars, trucks and buses dropped 19.4 percent from a year earlier to 178,503 units, according to the Japan Automobile Dealers' Association.
Sales fell almost 29 percent in April and 31.5 percent in March.
Among Japan's top three automakers, Toyota Motor Corp. led the decline. The company sold 80,503 vehicles in May, down about 24 percent. Nissan Motor Co.'s new vehicle sales fell 9.1 percent, while those at Honda Motor Co. rose 4.5 percent.
The figures are compiled using the government's new vehicle registrations, and do not include mini-cars or mini-trucks.
Data last week showed that fallout from the recession is expanding to workers and their families amid deteriorating job and wage conditions. The jobless rate rose to six-year high of 5 percent in April, while household spending fell 1.3 percent, the government said Friday.
As part of economic stimulus measures, the government has introduced schemes to boost personal consumption, which accounts for more than half of the world's second-biggest economy.
It began offering tax exemptions for cars earlier this year to encourage sales. Parliament gave consumers added incentive Friday when it approved a cash-back rebate for trading in cars 13 years or older for greener cars.
In a rare bight spot, orders in Japan for Toyota's new Prius hybrid have topped 110,000, a major dealership chain said. The third-generation Prius officially rolled out in Japan just two weeks ago. But dealers are already flooded with orders, including some placed weeks in advance, according to the dealership.
New sales of cars, trucks and buses dropped 19.4 percent from a year earlier to 178,503 units, according to the Japan Automobile Dealers' Association.
Sales fell almost 29 percent in April and 31.5 percent in March.
Among Japan's top three automakers, Toyota Motor Corp. led the decline. The company sold 80,503 vehicles in May, down about 24 percent. Nissan Motor Co.'s new vehicle sales fell 9.1 percent, while those at Honda Motor Co. rose 4.5 percent.
The figures are compiled using the government's new vehicle registrations, and do not include mini-cars or mini-trucks.
Data last week showed that fallout from the recession is expanding to workers and their families amid deteriorating job and wage conditions. The jobless rate rose to six-year high of 5 percent in April, while household spending fell 1.3 percent, the government said Friday.
As part of economic stimulus measures, the government has introduced schemes to boost personal consumption, which accounts for more than half of the world's second-biggest economy.
It began offering tax exemptions for cars earlier this year to encourage sales. Parliament gave consumers added incentive Friday when it approved a cash-back rebate for trading in cars 13 years or older for greener cars.
In a rare bight spot, orders in Japan for Toyota's new Prius hybrid have topped 110,000, a major dealership chain said. The third-generation Prius officially rolled out in Japan just two weeks ago. But dealers are already flooded with orders, including some placed weeks in advance, according to the dealership.
Japan's May Incentives Boost Hybrid Vehicles Sales
Japanese incentives for ecological gadgets are helping lift electronics sales, according to ministry and industry data, in what may be an early sign of some recovery in a recession-battered economy.
Under a government stimulus package, that kicked in May 15, people who buy energy-efficient flat-panel TVs, refrigerators and air conditioners accumulate "eco-points," which the government promises will convert to discounts or trade-ins for products that have yet to be announced.
Despite the mystery of what the perks may be, the Ministry of Economy, Trade and Industry said electronics sales were up 50 percent during the week after the "eco-point" system started, compared to the same period last year.
Last week they were up 30 percent from a year earlier, the ministry said.
Gfk Marketing Services Japan, a private sector researcher that monitors sales data at about 4,500 electronics stores nationwide, found sales of flat-panel TVs were up 60 percent in the May 18-24 week from a year earlier.
Sales of refrigerators were up 9 percent for that week, Gfk said Monday.
Green gadget incentives are part of a larger government package meant to wrest the world's second largest economy from its worst recession in postwar history.
Japan has also made gas-electric hybrid vehicles tax-free and reduced taxes on other ecological vehicles.
Sales of both the Prius hybrid from Toyota Motor Corp. and the Insight hybrid from Honda Motor Co. are booming in Japan.
Orders for the Prius nationwide have topped 110,000, although Toyota had targeted selling just 10,000 Prius cars a month. Honda's Insight was Japan's top-selling car in April, the first time a hybrid clinched that spot.
A separate cash-for-clunkers incentive of up to 250,000 yen ($2,500) for trading in a vehicle 13 years or older won legislative approval Friday, and will take effect in coming weeks.
Under a government stimulus package, that kicked in May 15, people who buy energy-efficient flat-panel TVs, refrigerators and air conditioners accumulate "eco-points," which the government promises will convert to discounts or trade-ins for products that have yet to be announced.
Despite the mystery of what the perks may be, the Ministry of Economy, Trade and Industry said electronics sales were up 50 percent during the week after the "eco-point" system started, compared to the same period last year.
Last week they were up 30 percent from a year earlier, the ministry said.
Gfk Marketing Services Japan, a private sector researcher that monitors sales data at about 4,500 electronics stores nationwide, found sales of flat-panel TVs were up 60 percent in the May 18-24 week from a year earlier.
Sales of refrigerators were up 9 percent for that week, Gfk said Monday.
Green gadget incentives are part of a larger government package meant to wrest the world's second largest economy from its worst recession in postwar history.
Japan has also made gas-electric hybrid vehicles tax-free and reduced taxes on other ecological vehicles.
Sales of both the Prius hybrid from Toyota Motor Corp. and the Insight hybrid from Honda Motor Co. are booming in Japan.
Orders for the Prius nationwide have topped 110,000, although Toyota had targeted selling just 10,000 Prius cars a month. Honda's Insight was Japan's top-selling car in April, the first time a hybrid clinched that spot.
A separate cash-for-clunkers incentive of up to 250,000 yen ($2,500) for trading in a vehicle 13 years or older won legislative approval Friday, and will take effect in coming weeks.
2009 May Auto Sales: Toyota Down 24%, Leads Japan's Drop
Toyota Motor Corp., Japan’s largest automaker, led a 19 percent drop in the country’s vehicle sales last month, as falling wages and rising unemployment discouraged customers from visiting showrooms.
Sales of cars, trucks and buses, excluding minicars, fell to 178,503 vehicles, the Japan Automobile Dealers Association said in a statement today. Toyota sold 80,503 units excluding Lexus brand cars, down 24 percent. Honda Motor Co., the country’s second-largest automaker, posted a 4.5 percent gain, and No. 3 Nissan Motor Co. sold 9.1 percent fewer units.
Japan, the world’s second-largest economy, is struggling to spur spending among consumers as wages fell for an 11th straight month and the jobless rate reached a five-year high in April. Still, the pace of decline in auto sales slowed last month from 32 percent in March and 29 percent in April, as government tax incentives helped boost sales of Toyota Prius and Honda Insight gasoline-electric hybrid cars.
“More and more people are opting for hybrids to save money given the current economic condition,” said Ichiro Takamatsu, chief investment officer at Alphex Investments Co. in Tokyo. Rising oil prices this year will “further spur demand for cars with better fuel economy.”
Toyota has received more than 80,000 orders for the revamped Prius, it said on May 8. Honda’s Insight has attracted 35,000 orders, it said on May 21. Nissan said on May 19 that orders for 14 fuel-efficient models such as the Cube and Tiida rose about 30 percent in last month.
Unemployment
Sales of minicars, powered by engines no larger than 0.66- liters, declined 18 percent to 113,540 units last month, the Japan Mini Vehicles Association said in a separate statement. Daihatsu Motor Co., Japan’s largest minicar maker, sold 41,168 units in May, down 16 percent. Suzuki Motor Corp.’s sales fell 12 percent to 39,649 units.
Combined with minicars, industrywide sales dropped for the 10th straight month, falling 19 percent to 292,043 vehicles. Minicars represent about 40 percent of the Japanese market.
Japan’s unemployment climbed to 5 percent in April, the government said last week. Household spending fell 1.3 percent in April, the 14th straight decline. Outlays by consumers make up more than half of the economy.
Prime Minister Taro Aso plans to give subsidies for purchases of new fuel-efficient cars to spur sales as part of his 15.4 trillion yen ($162 billion) economic stimulus program. The government expects the subsidies to boost sales by 690,000 vehicles this fiscal year. Consumers who bought cars after April 10 when Aso announced the program are eligible.
The dealers association and the automakers’ group will start advertisements about the subsidies to consumers this month, Michiro Saito, a spokesman for the auto dealer’s group, told reporters in Tokyo today.
“Orders for fuel-efficient cars are increasing on the incentive program,” Saito said.
Japan’s vehicle slump mirrors that of the U.S., the world’s largest auto market, where sales have fallen 37 percent this year through April bringing General Motors Corp. to the brink of bankruptcy.
Sales of cars, trucks and buses, excluding minicars, fell to 178,503 vehicles, the Japan Automobile Dealers Association said in a statement today. Toyota sold 80,503 units excluding Lexus brand cars, down 24 percent. Honda Motor Co., the country’s second-largest automaker, posted a 4.5 percent gain, and No. 3 Nissan Motor Co. sold 9.1 percent fewer units.
Japan, the world’s second-largest economy, is struggling to spur spending among consumers as wages fell for an 11th straight month and the jobless rate reached a five-year high in April. Still, the pace of decline in auto sales slowed last month from 32 percent in March and 29 percent in April, as government tax incentives helped boost sales of Toyota Prius and Honda Insight gasoline-electric hybrid cars.
“More and more people are opting for hybrids to save money given the current economic condition,” said Ichiro Takamatsu, chief investment officer at Alphex Investments Co. in Tokyo. Rising oil prices this year will “further spur demand for cars with better fuel economy.”
Toyota has received more than 80,000 orders for the revamped Prius, it said on May 8. Honda’s Insight has attracted 35,000 orders, it said on May 21. Nissan said on May 19 that orders for 14 fuel-efficient models such as the Cube and Tiida rose about 30 percent in last month.
Unemployment
Sales of minicars, powered by engines no larger than 0.66- liters, declined 18 percent to 113,540 units last month, the Japan Mini Vehicles Association said in a separate statement. Daihatsu Motor Co., Japan’s largest minicar maker, sold 41,168 units in May, down 16 percent. Suzuki Motor Corp.’s sales fell 12 percent to 39,649 units.
Combined with minicars, industrywide sales dropped for the 10th straight month, falling 19 percent to 292,043 vehicles. Minicars represent about 40 percent of the Japanese market.
Japan’s unemployment climbed to 5 percent in April, the government said last week. Household spending fell 1.3 percent in April, the 14th straight decline. Outlays by consumers make up more than half of the economy.
Prime Minister Taro Aso plans to give subsidies for purchases of new fuel-efficient cars to spur sales as part of his 15.4 trillion yen ($162 billion) economic stimulus program. The government expects the subsidies to boost sales by 690,000 vehicles this fiscal year. Consumers who bought cars after April 10 when Aso announced the program are eligible.
The dealers association and the automakers’ group will start advertisements about the subsidies to consumers this month, Michiro Saito, a spokesman for the auto dealer’s group, told reporters in Tokyo today.
“Orders for fuel-efficient cars are increasing on the incentive program,” Saito said.
Japan’s vehicle slump mirrors that of the U.S., the world’s largest auto market, where sales have fallen 37 percent this year through April bringing General Motors Corp. to the brink of bankruptcy.
Sunday, May 31, 2009
TuffToys Offers Japan's Nissan, Toyota Used Cars in Australia
Get an email offer from TuffToys.com.au. I think they are not bad deals, so, I post their information here:
http://www.tufftoys.com.au/cars/car1.html
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http://www.tufftoys.com.au/cars/car1.html
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