Focusing on the new trends of traditional car companies, Toyota’s net profit halved in the third quarter.
On November 6th, Toyota announced that its net sales from July to September this year were 11.
4 trillion yen, basically the same as the same period last year.
operating profit was 1.
16 trillion yen, down 19.
4% from a year earlier, down from 1.
44 trillion yen in the same period last year and below the average analyst expectation of 1.
25 trillion yen.
Net profit totaled 573.
7 billion yen, down 55 per cent from 1.
28 trillion yen in the same period last year.
Honda’s third-quarter operating profit fell 15 per cent year-on-year.
On November 6th, Honda reported that its operating profit fell 15 per cent to 257.
9 billion yen from July to September, compared with 302.
1 billion yen in the same period last year.
According to a survey by the London Stock Exchange Group (LSEG), the average forecast for Honda’s operating profit for the quarter was 427.
2 billion yen.
BMW’s profit margin fell to its lowest level in four years in the third quarter.
In the third quarter, BMW’s revenue fell 16 per cent year-on-year to 32.
4 billion euros due to costly recalls and weak demand in the Chinese market, while operating profit plunged 61 per cent to 1.
7 billion euros.
Profit margins in the car business fell to 2.
3 per cent, well below the target of at least 6 per cent in 2024 and the lowest level since the second quarter of 2020.
Volkswagen German factory workers went on strike again, and on November 6, Volkswagen Group factory workers went on strike in Osnabruk, Germany.
The Oslabruk plant is believed to be one of the factories that Volkswagen is likely to close, the second strike at the plant in two weeks, reflecting growing tensions over cost-cutting and possible closure of German factories.
Stellantis will lay off 1100 workers at its Jeep plant in Ohio, and Stellantis said on November 6th that it would cut about 1100 jobs at its Jeep Gladiator plant in Toledo, Ohio, to improve the efficiency of its North American operations and reduce inventory.
Kia launched its pickup Tasman, which is scheduled to go on sale in South Korea next year.
Kia launched its first pickup, the Tasman, which will go on sale in South Korea in the first half of 2025, followed by Australia, Africa and the Middle East, but not in the United States.
Focusing on electrification, Canoo’s chief financial officer and chief lawyer left.
On November 5th, electric vehicle startup Canoo announced in a regulatory filing that its chief financial officer Greg Ethridge and general counsel Hector Ruiz had resigned on October 31st.
This is the latest news of the departure of senior executives from the company.
Musk became the richest man in the world with a fortune increase of $20.
9 billion, and Tesla’s share price closed up 14.
75% on November 6 after Musk-backed Trump won the US presidential election.
Tesla’s surge has increased the company’s founder and CEO Musk’s fortune by $20.
9 billion a day, to $285.
6 billion, far surpassing Jeff Bezos, the second richest person in the world, according to the Forbes rich list.
Focusing on the supply chain, construction of Umicor’s new plant in Canada was suspended, and on November 6th, Belgian metal recycler and electric car battery maker Umicor said it would suspend construction of a new plant in Canada.
“the company is in a challenging environment and we feel the complex impact of the electrified transformation of the automotive industry,” Bart Sap, chief executive of Umicor, said in a statement.
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