|Bid||29.23 x 900|
|Ask||29.24 x 1300|
|Day's Range||29.12 - 29.39|
|52 Week Range||22.87 - 30.12|
|Beta (5Y Monthly)||1.27|
|PE Ratio (TTM)||5.04|
|Forward Dividend & Yield||1.03 (3.55%)|
|1y Target Est||31.58|
The M-Byte from Byton. China's new offering is joining a strong international cast of electric and hybrids on the stages of this year's Frankfurt Car Show. From Japan: the Honda CR-V Hybrid. The U.S.: Ford Explorer Plug-In. And - like the M-Byte, also from China - the Hongqi electric concept. When exhibitor numbers have been going down, China's presence in Frankfurt is on the up. Seventy-nine suppliers and carmakers make it the biggest foreign contingent this year. As for the M-Byte, it's had expressions of interest from 20,000 customers at shows across Europe, says designer Benoit Jacob. SOUNDBITE (English) SVP DESIGNER AT BYTON, BENOIT JACOB, SAYING: "It is quite special to really bring a concept into reality. And moreover this is especially the interior that is really a game changer. We propose a 48 inch display which will basically revolutionize the way you travel and commute." Stringent new emission rules in Europe make China's strong position in EV technologies that bit more attractive. In the wake of Dieselgate, German firms have been striking major deals with Chinese suppliers. But this is a two-way street. Carmakers in China - as it winces from its trade war with the US - are looking at Europe with more interest. Sales back home fell for a 14th consecutive month in August, according to data on Wednesday. EV sales were close to 16% lower than a year ago. Byton plans to export cars to Europe from its factory in Nanjing in 2021. The price range: expected to start at around $45,000.
At a two-day gathering for Honda's suppliers in March, Chief Executive Takahiro Hachigo sounded the alarm. At the Hotel Higashinihon in Utsunomiya, Hachigo told them the Japanese automaker was facing a crisis after a string of costly recalls and other quality blunders and it needed to plot a new course, according to two people who attended the meeting. Since then, Hachigo has been quietly working on reforms to centralise decision-making by bringing Honda's standalone research & development (R&D) division in-house and cutting some senior management roles, according to three Honda insiders.
(Bloomberg) -- Black Friday deals likely helped lift U.S. auto sales at most automakers in November, as a bumper crop of old model-year vehicles spurred carmakers to offer record discounts. But it wasn’t enough to spare troubled Nissan Motor Co. from a 15.9% decline.Total light-vehicle sales in the country probably ran at an adjusted annualized rate of 17.5 million in November, a touch better than 17.4 million a year ago, according to a projection by LMC Automotive and J.D. Power. The market researchers expect industry deliveries to drop to 16.8 million in 2020, from about 17.1 million this year.It’s not just sales that rose in November, so did prices, which averaged $35,623, up 1.3% from a year ago, according to researcher TrueCar. BMW AG, Fiat Chrysler Automobiles NV and Hyundai Motor Co. all saw gains in average transaction prices, driven by popular new models.To move older model year vehicles from dealer lots, automakers boosted incentive spending by an estimated 12% to $4,538 per vehicle in November, J.D. Power estimated last week, exceeding $4,500 for the first time. Those discounts, plus the later date for this year’s Thanksgiving holiday, was expected to spur some of the best Black Friday deals in years, according to car-shopping researcher Edmunds.Detroit’s three major manufacturers have stopped reporting monthly numbers, so tallies for November won’t include official figures from General Motors Co., Ford Motor Co. or Fiat Chrysler. Other automakers generated about 56% of U.S. new-vehicle sales in the first half of the year.Here are highlights from the automakers that are reporting results for last month:VW’s SUV MakeoverVolkswagen has worked diligently to swap out small passenger cars, like its beloved Beetle, for the big trucks Americans want. The move paid off last month, with the German automaker posting a 9.1% gain, buoyed by sales of its mid-size Tiguan SUV and three-row Atlas.Light-trucks made up 55% of VW’s November sales, but its sedans are selling well and bucking the industry trend. The Jetta sedan was its best seller in November, with 8,966 deliveries. While sales were down 2.6% in the month, they are up 15% year-to-date.Nissan Stuck in ReverseNissan posted a third straight monthly decline in November, with sales falling below 100,000 vehicles for the first time since July. Deliveries of its top seller, the Rogue SUV, sank 25.5% and demand for the Murano crossover and Frontier pickup also declined by double digits. Only three models notched gains in the month, led by a 37% surge in sales of the Altima sedan.The automaker has suffered from turmoil in its senior management ranks in Japan and a refocusing of its U.S. business away from reliance on steep discounts and fleet sales.“It’s going to take a bit of time for us, and we’re not taking any shortcuts to get there,” David Kershaw, division vice president for the Nissan brand at the company’s U.S. sales unit, said in a phone interview.Trucks are Honda’s HeroesHonda Motor Co. sales soared 11% in November to 133,952 vehicles, paced by demand for sport utility vehicles and trucks.The automaker’s top-seller, the CR-V crossover, had a record month, and deliveries of the smaller HR-V more than doubled. Sales of the Ridgeline pickup climbed 31%.Hybrids Power ToyotaToyota Motor Corp.’s U.S. deliveries jumped 9.2% to 207,857 vehicles, led by a 26% increase for its biggest-volume model, the RAV4 compact SUV. The Tacoma mid-size truck and Camry and Corolla sedans also had strong showings.The Japanese automaker said nearly a quarter of its 44,665 RAV4 sales were gasoline-electric models. Sales of all Toyota- and Lexus-brand hybrids surged 65% to 27,274 vehicles -- about 13% of total U.S. deliveries.Hyundai Leans on SUVsSouth Korea’s Hyundai reported a solid 6.2% rise in November sales to 60,601 vehicles, its 15th gain in the last 16 months.SUVs including the compact Tucson and mid-size Santa Fe and Palisade models led the way, but its hybrid and electric vehicles are also on the ascent, soaring 78% for the month.\--With assistance from Keith Naughton, David Welch and Gabrielle Coppola.To contact the reporter on this story: Chester Dawson in Southfield at email@example.comTo contact the editors responsible for this story: Craig Trudell at firstname.lastname@example.org, Cécile Daurat, David WelchFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- China’s once-in-a-generation car slump is hobbling carmakers around the globe that placed their bets on what is the world’s biggest auto market. But one group is weathering the slowdown unscathed: Japan.Iconic car companies like Toyota Motor Corp. and Honda Motor Co. are increasing sales in a market that has fallen almost every month since June 2018. They’re doing it by targeting what’s proven to be a sweet spot in the faltering market -- demand for hybrid gasoline-electric cars. Japanese automakers are leaders in the technology, which appeals to Chinese consumers keen to heed the government push toward new-energy vehicles, but aren’t ready to shift to pure-electric autos just yet.“The hybrid I drive now is as reliable as the one I used before but more fuel-efficient,” said Charles Wang, who bought a hybrid Toyota Camry in 2019 after driving a gasoline-powered Honda Accord for six years. “I never regretted my choice of sticking to Japanese cars.”Toyota, maker of the pioneer hybrid model Prius, and peers Honda and Nissan Motor Co. have been early adopters of the technology that combines an internal combustion engine with an electric motor. That’s allowed them to keep sales humming even as demand for gasoline cars wanes and pure-electric vehicles are yet to catch on.Japanese brands boosted sales 4.3% in the first first 10 months of the year, outpacing U.S., European, South Korean and Chinese rivals, according to China Passenger Car Association. Japan is now close to overtaking Germany as the biggest foreign car power in China, though Germany is benefiting from resilient demand for its premium models.Sales of Japanese brands’ hybrids have risen about 30% this year in China to more than 220,000, making the vehicles one of the fastest-growing market segment, according to the association. Japanese carmakers control about 99% of the traditional hybrid market in China, according to numbers from consultancy WAYS Information Technology Co. that exclude plug-in vehicles.Among the reasons shoppers are going for hybrids is range anxiety -- the fear that an electric car’s battery runs out and leaves the driver stranded. China’s charging infrastructure is in early stages, though manufacturers and the government are trying to hasten a buildout.Hybrid demand has also been spurred by those buying a second car, as such customers are more likely to be concerned about fuel consumption, said Cui Dongshu, secretary general of CPA.What’s more, providers of mobility services such as car-sharing and ride-hailing are also increasingly moving to hybrids for their fuel efficiency, Cui said. So even if such services will reduce the total sales of cars, the Japanese manufacturers may be less affected than others.Guangzhou Automobile Group Co., which makes cars with both Toyota and Honda, has benefited from robust demand for models such as Camry, Yaris and Accord. GAC Toyota boosted sales 17% and GAC Honda 7% in the first 10 months of the year. That compares with a 11% slump in total industry deliveries, according to China Association of Automobile Manufacturers. Guangzhou Auto shares slipped 0.3% Friday morning in Shanghai after earlier rising as much as 2.2%.To ride the trend, Japanese companies touted their new hybrid models at the Guangzhou Auto Show last week. Those include the new Wildlander sport utility vehicle by Toyota and Honda’s Breeze, an SUV that comes in both hybrid and gasoline variants.GAC Honda is preparing to expand its production capabilities in 2020 after running at 120% capacity this year. GAC Toyota plans to add new models annually over the next three years.“GAC is full of confidence in our two Japanese car ventures’ future development,” the carmakers said in a statement responding to Bloomberg’s inquiry. “GAC Honda and GAC Toyota will enlarge its product lineup and add more capacity in line with market demand.”Thus far, the Japanese brands have also weathered China’s cooling economy relatively well. Less-affluent customers in regions outside big cities have been more affected by the slowdown, weighing on sales of lower-end local brands but sparing the mid-prized offerings of Toyota, Nissan and Honda. The lower-end slump has pushed the car industry’s total sales down in 16 of the past 17 months.“Consumers of Japanese-brand cars are mainly middle-class buyers with steady and decent income,” said PCA’s Cui. “They are less impacted by the slowing economy.”(Updates with Guangzhou Auto shares in 10th paragraph)To contact Bloomberg News staff for this story: Tian Ying in Beijing at email@example.comTo contact the editors responsible for this story: Young-Sam Cho at firstname.lastname@example.org, Ville HeiskanenFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
The Zacks Analyst Blog Highlights: Toyota Motor, Honda Motor, Nissan Motor, Tesla and Advance Auto Parts
While Japan's 1 carmaker Toyota (TM) misses fiscal second-quarter 2020 earnings estimates, its top peer Honda (HMC) surpasses the same.
The Zacks Analyst Blog Highlights: Booking, Allergan, Honda Motor, Infosys and Activision Blizzard
While 2030 has been earmarked as the breakthrough year for autonomous vehicles, several industry leaders believe self-driving cars remain little more than a pipedream
While Honda (HMC) beats fiscal second-quarter 2020 earnings and sales estimates, it narrows view for the full year amid sluggish global vehicle demand.
Honda Motor Co slashed its annual profit and global sales outlook to a four-year low, citing a firmer yen and bleak business in both India and its main market of North America, even as it unveiled plans to buy back $915 million shares. The dour outlook comes at a time when Honda is struggling to shore up its automobile operations, with its profitability down more than half in the past two years due to a series of quality-related issues constraining its financial firepower to invest in new vehicle technologies. Honda said it had also been hit by an almost 20% slide in motorcycle sales over the six months to September in India.
While strong performance of the North American market buoys General Motors (GM) and Ford's (F) Q3 results, Tesla (TSLA) gains from rising Model 3 deliveries.
Hitachi Ltd will merge its vehicle components unit with Honda's three suppliers in a bid to cut development costs and better respond to a rapid industry shift to electric vehicles (EV) and self-driving. Honda's bigger rival Toyota Motor Corp announced last month it would raise its stake in Subaru Corp to more than 20%. Toyota has also been cementing ties with smaller rivals such as Suzuki Motor Corp and Mazda Motor Corp , which have acknowledged that they lack the investment firepower to invest in developing new vehicle technologies.
OAKLAND, CA / ACCESSWIRE / October 23, 2019 / Bleichmar Fonti & Auld LLP and Schonbrun Seplow Harris & Hoffman LLP have filed a class action lawsuit against Honda alleging that Honda knowingly marketed and sold the Acura RDX, model years 2019 and 2020, with a defective infotainment system. Honda promised consumers that the RDX infotainment system would provide the driver with effortless control of the car's navigation, safety, and entertainment features, including the GPS, radio, backup camera, and certain apps on the driver's phone. In reality, the infotainment system freezes up on a regular basis, displays error messages and repeatedly resets.
Japanese carmaker Honda has brought forward a goal to only sell electric and hybrid cars in Europe by three years to 2022, a leading company executive said on Wednesday. Last month, Honda said it would phase out all diesel vehicle sales in Europe by 2021 in favour of electrified vehicles. Gardner made the announcement in Amsterdam, where Honda was presenting the new fully-electric Jazz model for the European market.
Tesla reported its Q3 deliveries of 97,000—a record. Tesla's deliveries fell short of expectations of 98,000, leading its stock to slide 5% after hours.
Ford's Q3 2019 US sales came in at 580,251 units for a 4.9% YoY decline. Wall Street analysts expected a 6.1% decline in Ford’s Q3 sales figures.
In Europe, Honda Motors plans to stop selling diesel cars by 2021, and only sell electric and hybrid cars by 2025. Tesla also sells its cars in Europe.
Honda is the latest automaker cutting production of diesel cars to meet stringent global emissions regulations. The plan is part of its long-term goal to make electric cars, including all battery-electric vehicles, to account for two-thirds of its line ups by 2030 from less than 10% now. For Honda, declining demand for diesel vehicles and tougher emissions regulations have clouded its manufacturing prospects in Europe.