Honda hits headwinds

Honda Executive VP Tetsuo Iwamura

Honda Executive VP Tetsuo Iwamura

Every three months, Honda is first among Japan’s major automakers to report the numbers for the quarter. It sets the tone for the presentations of its peers. Today was the day to go to Aoyama-Itchome in Tokyo, and to hear that business isn’t bad, but not rosy either. Honda is still making plenty of money, but less than expected.

Why? [Continue Reading]

Japanese automakers: The currency party is over

Honda - Picture courtesy Bertel Schmitt

A year ago, Ford execs all the way to Mulally riled against a weaker yen, saying it gives Japanese automakers an unfair advantage. Indeed, when the abnormally strong yen came back to acceptable levels later in the year, profits of Japanese automakers surged. That party appears to be over. Yesterday, Nissan reported no appreciable currency effects on its earnings. Today, Honda reported same. [Continue Reading]

Nissan’s currency gains in Japan evaporate in Russia

Nissan Q1 - Picture courtesy Bertel Schmitt

Nissan presented a stellar quarter today to the media assembled at the Yokohama headquarters. Forex gains had a big impact on the earnings of Japan’s automakers in the past quarters. Not this time, at least not at Nissan. [Continue Reading]