US Carmakers' Sales Rise, Japanese Posts Decline
US automotive sales rose by nearly 8 percent or 9.86 million cars sold in March from 9.1 million in February, a far outcry from earlier prediction by Bloomberg analysts who said that US companies will only have a total sale of 8.8 million cars. Meanwhile, Japanese automakers post slumping revenue and weak demand.
US automotive sales rose by nearly 8 percent or 9.86 million cars sold in March from 9.1 million in February, a far outcry from earlier prediction by Bloomberg analysts who said that US companies will only have a total sale of 8.8 million cars.
Meanwhile, Japanese automakers reported slumping sales and weak demand in March—but at least slightly higher than what analysts earlier predicted.
Nissan Motor Co., Toyota Motor Corp., and Honda Motor’s sales have significantly decreased last month as labor market continues to weaken and income becomes more dispensable in this rich Asian country.
On April 2, Honda’s shares rocketed in the final closing minutes by as much as 14 percent; while Toyota’s has an additional 8 percent increase. Meanwhile, Nissan’s surged by as much as 21 percent.
Toyota has reported a 39 percent sales increase which can be attributed to the car maker’s per vehicle incentives that helped its sales to jump 88 percent from last year’s record.
Japanese carmaker’s executives said they did not expect the sales will get back higher than expected, saying that most of the people are now just “sitting on the sidelines” waiting for the economy to bounce back from deep recession.
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