Toyota and Mitsubishi doing better than expected
Japanese car manufacturers, Toyota and Mitsubishi, are doing better than expected. Toyota has revised its forecast positively, Mitsubishi has announced a serious sales increase resulting in higher benefits.
For the fiscal year 2018/2019, Toyota has revised its forecast and is aiming at a net annual benefit of 2.300 billion yen (17,7 billion euro at the actual exchange rate of the yen). That’s still 8% less than the record benefit figures recorded last year, but for the first half of this year (April-September) already 1.242,4 billion yen of benefits have been registered.
Toyota has resisted a sales decline in the US where it sold 1,41 million cars in the first half of the year, but will restructure and cut costs in its 10 plants if necessary, says Jim Lentz, CEO of Toyota in the States. In China ,the Japanese manufacturer has done very well but it is still recovering ground on its rivals there.
Also in Europe and Southern Asia sales have progressed, but in its home country, Japan, they have diminished, making Toyota decide to launch a sort of subscription scheme, where the subscriber can drive in different Toyotas during a certain period.
In total, Toyota has sold 5,3 million cars worldwide in the first half year. The company stays in the top three of manufacturers, battling with the VW Group and the Alliance Renault/Nissan/Mitsubishi for the number one position. Total turnover has risen 3,4% last year to 112 billion euro and is in line with a 0,4% rise projected for this year.
Mitsubishi recovering well
Talking about the Alliance, Mitsubishi, one of its members which was in a bad state a few years ago and was saved by Nissan, is doing very well now, especially in South-East Asia but also in China and Europe. In the first half of the fiscal year 2018/2019 the manufacturer registered a net benefit of more than 400 million euro.
The smaller Japanese car manufacturer is expecting to recover entirely from its recent problems (worsened by a credibility scandal in its home country in 2017) augmented its turnover with 23% to 9,05 billion euro in the first half of the year.
In Indonesia sales have doubled thanks to the XPander MPV and also in Thailand (where Mitsubishi is already very strong) sales have still increased due to the success of the Triton pick-up.
In China sales went up 19% and also in Europe they progressed 29%, both due to the success of the Outlander (particularly the PHEV or plug-in hybrid). Even in Japan things are getting better in a constant manner.
For the current fiscal year ending March 2019, Mitsubishi is still aiming at an increase of 9,5% of turnover to 2.400 billion yen (18,6 billion euro), realized with the sales of 1,25 million vehicles. Net benefice is expected to rise with 2,2% at 110 billion yen or 850 million euro.