Nissan may have turned a corner, Volvo wants 2021 to be epic and Honda. All this and more The morning shift for February 9, 2021.
First gear: Nissan sees results
Nissan’s history over the past year or two has been inextricably linked the story of former CEO Carlos Ghosn, for understandable reasons, as this story includes an old green beret, private jets, and musical instrument boxes. JoMeanwhile, those who follow Nissan are trying to save what’s left, which includes a major reduction in Nissan’s strategy under Ghosn, which was quite a volume.
They are starting to see results.
From Bloomberg:
Japan’s second-largest carmaker forecast a net loss of 530 billion yen ($ 5.1 billion) during the year to March, narrower than forecast at 615 billion yen. Nissan made an operating profit of 27.1 billion yen during the three months to December. Analysts had predicted an average loss of 46.8 billion yen.
The last quarter saw a recovery for the global car market as a whole, with retail sales reaching previous year’s levels in the United States and surpassing them in China, Ashwani Gupta, director, said on Tuesday. Nissan general operations. “We’re gaining momentum,” he said.
Nissan has nearly nine months on an aggressive response plan that involves reducing its global production capacity by about a fifth and producing 12 new models over the 18 months through November to refresh its aging lineup and awaken the l consumer interest.
Sales of new models such as the Rogue SUV, which debuted in the United States in October, have been higher, limiting the drop in global Nissan global sales to less than 10% year-on-year in November and December. compared to more than 30% decline during the first half of 2020.
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As funny as Ghosn’s story was, I’d rather Nissan do the best thing again, which is every 10 years more or less doing something interesting.
2nd gear: Volvo makes a big turn in 2021
Volvo sold 661,713 cars last year, almost double the number of vehicles it sold in 2010. That number is less than 800,000 Volvo originally expected to sell in 2020 before the pandemic occurred, but these aspirations have been delayed until this year.
From Automotive news:
[Volvo Cars CEO Hakan Samuelsson] is optimistic because Volvo has had the best second half of its 93-year history, selling 391,751 vehicles worldwide over the past six months of 2020.
It started 2021 with its best January in history, with monthly global sales of 30%, up to 59,588 vehicles, with strong demand from Europe (+ 9%), the US (+ 32%) and China (+ 91%). The big increase in China came because Volvo’s sales in January 2020 were hampered by the COVID-19 outbreak in the country.
When 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’re looking at strong continued growth and we’re going to see where we land,” he said.
By context, Tesla delivered nearly 500,000 cars last year, while Toyota, the world’s largest automaker by volume, handed over 9.5 million.
3rd gear: Honda also expects a big 2021
Things are back to normal. I mean “normal.” I mean “” normal. “
From Reuters:
Honda recorded a 67% increase in profits in the last quarter due to higher demand and cost reductions.
Operating profit for the three months to December 31 was 277.7 billion yen ($ 2.655 billion), Honda said in a statement on Tuesday.
“Car sales results exceeded the same period last year since October mainly due to the launch of the new N-ONE,” said Seiji Kuraishi, Honda’s chief operating officer, at a press conference, in reference to the launch of city cars in the city of Japan in November to November.
Honda raised its full-year tax profit forecast to 520 billion yen ($ 5 billion), above the 420 billion yen projected three months ago.
The N-One, if you don’t know it, command completely.
4th Gear: I’m already very tired of reading about this damn lack of chips
Reuters he says that the shortage of chips this year it will cost Honda and Nissan a quarter of a million cars.
But Honda on Tuesday lowered its sales target 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 to 4.015 million units, as the shortage of chips forced the two companies to curb production.
“Popular models that sell well were affected by the shortage of semiconductors,” said Seiji Kuraishi, Honda’s chief operating officer during an online press conference. “We had to change and adjust production plans. But that was not enough, “he added.
The global car industry has been faced with a shortage of chips since late last year, which in some cases has been exacerbated by former US administration sanctions on Chinese chip factories. .
That part of the chip shortage can be attributed directly to former President Donald Trump is the least surprising.
5th Gear: Learn more about Apple and Hyundai
Bloomberg has an interesting two-day story on the ramifications of the Apple and Hyundai agreement to build a car apparently falling to pieces. Ultimately, Bloomberg concludes, this could be the best.
While it’s a lesson in how to play the big leagues, Apple’s car experience may be a good thing for Chung and Hyundai, as they refocus their ambitions, according to Kim Jin-woo, an analyst at Korea Investment & Securities Co. , which is valued by Hyundai for purchase.
“Hyundai has the knowledge on how to manage supply chains with its more than four decades of experience,” Kim said. “Apple’s news could have become a catalyst for stock prices, but Hyundai has been developing its own future mobility projects.”
Investors have already started listening. Shares of Hyundai Motor jumped nearly 60% in 2020, while shares of Kia rose 41%, an impressive result in a year that many automakers prefer to forget, as the coronavirus pandemic weighed on sales. Hyundai gained 2% on Tuesday, rising from January to 24.5%.
Kia last month changed a new, sleeker logo, which removed the oval-shaped badge and announced a new “Inspiring Movement” slogan to replace its old “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 also values Hyundai as a purchase. “I’d like to be the next Tesla.”
A partnership with Apple sounds good on paper and may mean a rise in stock prices in the short term, but the actual work of doing the damn thing seems like a big lift, when you could spend that time doing yours.
Reverse: There was a war going on
Neutral: How are you?
I can’t find any useful clip online for my life, but the current mood is for George Clooney to get into a taxi at the end of Michael Clayton.
“Just drive.”