Latest news with #HondaMotorCo
The Star
2 hours ago
- Automotive
- The Star
Japan factory declines slow in May but tariff worries persist, PMI shows
Workers assemble Honda Motor Co. North America-bound Fit vehicles on the production line at the company's Suzuka factory in Suzuka, Mie, Japan, on Tuesday, Aug. 23, 2016. Photographer: Kiyoshi Ota/Bloomberg TOKYO: Japan's factory activity shrank at the slowest pace in five months in May as the decline in new orders eased, but worries over U.S. tariffs have dampened the recovery from an almost year-long contraction, a private-sector survey showed on Monday. The final au Jibun Bank Japan Manufacturing Purchasing Managers' Index (PMI) rose to 49.4 in May from 48.7 in April, marking the 11th consecutive month of staying below the 50.0-line that indicates contraction. Still, the reading was higher than the flash figure of 49.0 and the highest so far this year. "Manufacturing conditions in Japan moved closer to stabilisation in May, according to latest PMI data, with companies signalling a softer decline in sales and improved jobs growth," said Annabel Fiddes, Economics Associate Director at S&P Global Market Intelligence, which compiled the survey. Among sub-indexes, new orders fell for the 24th straight month, with manufacturers citing U.S. tariffs and increased client hesitancy as factors behind subdued demand conditions. Factory output also contracted for a ninth consecutive month, at a quicker pace than in April, the survey showed. To mitigate the impact of the U.S. tariffs on cars and other manufacturing sectors, which are the backbone of the Japanese economy, Tokyo has held four rounds of trade talks with Washington and plans a fiscal package to support households and businesses. In a positive sign, input cost inflation eased to a 14-month low in May, while output price inflation slowed to the softest in nearly four years. Employment increased for the sixth month in a row as firms filled vacancies and prepared for anticipated production increases, according to the survey. Business confidence on future output strengthened from April's near five-year low, with firms citing expectations of stronger market demand particularly in the semiconductor industry. However, some expressed concerns over U.S. tariffs, inflation and Japan's declining population as potential headwinds to growth, the survey showed. - Reuters
Qatar Tribune
4 days ago
- Automotive
- Qatar Tribune
Nissan's severance payments under fire
Agencies Four former Nissan Motor Co top executives including ex-President and CEO Makoto Uchida received a combined total of 646 million yen for leaving top roles at the embattled Japanese automaker, a general shareholders' meeting notice showed Tuesday. The large payouts may draw investor ire at the June 24 meeting, after Uchida stood down in March following unsuccessful merger talks with Honda Motor Co and with the company planning to ax thousands of jobs with a net loss of 670.9 billion yen for the fiscal year ended March. The three others subject to the severance pay were former chief brand and customer officer Asako Hoshino, former chief technology officer and executive officer Kunio Nakaguro, and Hideyuki Sakamoto, who served as executive officer for manufacturing and supply chain and Sakamoto are still serving as board directors until the end of the shareholders' meeting. The company did not provide details on their individual payouts. Combined remuneration for Nissan's current five executive officers was nearly 1.66 billion yen, according to the notice. Japan's third-biggest automaker by volume has been pressured by faltering vehicle sales in China and the United States. Since new President and CEO Ivan Espinosa took over from Uchida in April, the automaker is rushing to streamline global operations to return to profitability in the next fiscal year. It said in mid-May it plans to more than double staff cuts to 20,000 people and close seven of its 17 vehicle plants.
Japan Today
5 days ago
- Automotive
- Japan Today
Former top execs of struggling Nissan got ¥646 mil severance pay
Four former Nissan Motor Co top executives including ex-President and CEO Makoto Uchida received a combined total of 646 million yen for leaving top roles at the embattled Japanese automaker, a general shareholders' meeting notice showed Tuesday. The large payouts may draw investor ire at the June 24 meeting, after Uchida stood down in March following unsuccessful merger talks with Honda Motor Co and with the company planning to ax thousands of jobs with a net loss of 670.9 billion yen for the fiscal year ended March. The three others subject to the severance pay were former chief brand and customer officer Asako Hoshino, former chief technology officer and executive officer Kunio Nakaguro, and Hideyuki Sakamoto, who served as executive officer for manufacturing and supply chain management. Uchida and Sakamoto are still serving as board directors until the end of the shareholders' meeting. The company did not provide details on their individual payouts. Combined remuneration for Nissan's current five executive officers was nearly 1.66 billion yen, according to the notice. Japan's third-biggest automaker by volume has been pressured by faltering vehicle sales in China and the United States. Since new President and CEO Ivan Espinosa took over from Uchida in April, the automaker is rushing to streamline global operations to return to profitability in the next fiscal year. It said in mid-May it plans to more than double staff cuts to 20,000 people and close seven of its 17 vehicle plants. © KYODO
Time of India
7 days ago
- Automotive
- Time of India
Japan enters top five export markets for India-made cars
NEW DELHI: Japan has become one of the top five destinations for Indian car exports for the first time in FY25, signaling growing global demand for vehicles manufactured in India, even from advanced markets. Major Indian exporters like Suzuki Motor Corp and Honda Motor Co's local units are increasingly using India as a global production base. According to commerce ministry data compiled by SIAM, car exports to Japan jumped to $616.45 million in the first nine months of FY25, up from $220.62 million in all of FY24. Although official data for the March quarter is still awaited, industry sources expect exports to Japan to grow further, especially after Maruti Suzuki began shipping its Jimny SUV to the country in January. "Over decades, we have built a base in quality, cost, efficiency and technology in car manufacturing. This has given us volumes and economies of scale," senior executive officer at Maruti Suzuki India, Rahul Bharti told the Economic Times. He further noted that the company plans to export large number of e Vitara electric SUVs, produced in India, to European markets and Japan. Japan, a significant automobile manufacturer and exporter, shipped 5.12 million vehicles in 2024. Honda Cars India exported 45,167 units of SUV Elevate, predominantly to Japan, surpassing its domestic sales of 22,321 units. Maruti Suzuki offers SUVs Fronx and Jimny in Japan. Significantly, Suzuki temporarily suspended new Jimny five-door bookings due to overwhelming post-launch demand, receiving approximately 50,000 orders within four days in Japan. "Indian OEMs have been not only expanding into key markets such as Africa and Latin America but are also beginning to enter developed markets (like Japan) with globally competitive models," Shailesh Chandra, president, Society of Indian Automobile Manufacturers said. In the two-wheeler sector, Yamaha intends to begin exporting premium motorcycles to Japan soon. Itaru Otani, chairman, Yamaha Motor India Group, stated, "The sourcing cost, the labour cost, is quite low in India compared to other countries." "We are exporting nearly a third of our output to 58 countries already. We started exports to Europe from India at the end of last year. The next step is to ship to other advanced markets like Japan and the US," Otani added. India's automobile exports increased by 15% to 770,364 vehicles last fiscal year, significantly outperforming domestic sales growth of 2% at 4.3 million vehicles. While compact passenger vehicles constitute over 27% of exports, measuring up to 4 metres in length and up to 1.4-litres, compact SUVs of similar dimensions are gaining prominence. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
NZ Autocar
24-05-2025
- Automotive
- NZ Autocar
Honda achieves a milestone that few will emulate
Japanese motorcycle manufacturer is about to produce bike number 500,000,000. Honda Super Cub Few car makers have managed single models that really sell well, like Corolla and Golf, both around the 50million mark. But Honda eclipsed that with its Super Cub (above), managing over 100 million in its lifetime. And now Honda reports that it is about to build bike number 500 million in India, an Activa scooter. It has taken 76 years, the first Honda motorcycle produced in 1949. And that would be the Honda Dream D type (below). 1949 Dream D Type Since its founding in 1948, Honda has developed and provided products that meet the needs of customers in many countries and regions based on its belief that 'the purpose of technology is to make people's lives easier.' Honda motorcycle and scooter production facilities exist in 23 countries. The firm achieved its 100 million-unit milestone in 1997, its 200 million-unit milestone in 2008, and its 300 million-unit milestone in 2014. In 2018, Honda's annual production exceeded 20 million units for the first time in its history, and cumulative global production reached 40 million units in 2019. Honda's CB750 saw the rise of Japanese bike manufacturers worldwide. After COVID-19, demand has steadily recovered worldwide to pre-pandemic levels. In 2024 Honda had its 'first year of global expansion' for electric powered two-wheelers. Honda's annual production capacity now is more than 20 million units in 23 countries and 37 production entities. There are more than 30,000 Honda dealers worldwide. The next goal for Honda is achieving carbon neutrality, including through electrification. Toshihiro Mibe, Director, President and Representative Executive Officer, Honda Motor Co recently commented on the achievement. 'For Honda, motorcycle business…will continue to be the company's core business. 'We have built the trust of our customers through our many products and services, which has enabled us to achieve a cumulative production volume of 500 million units. 'I would like to thank our customers and all stakeholders who were involved in achieving this milestone, from development to production, sales, and service. 'Honda will continue to take on the challenge of expanding the joy of our customers around the world.' 1948 Honda Motor Co., Ltd. founded 1949 First full-fledged motorcycle model, the Dream D-type, launched 1958 First Super Cub model, the Super Cub C100, launched 1959 Honda becomes world's largest motorcycle manufacturer 1968 Cumulative global production reaches 10 million units 1969 The CB750 goes on sale 1975 The GL1000 Gold Wing goes on sale 1984 Cumulative global production reaches 50 million units 1986 The XRV650 Africa Twin joins the range 1992 The CBR900RR FireBlade goes on sale 1997 Cumulative global production reaches 100 million units 2004 Annual production exceeds 10 million units for the first time 2008 Cumulative global production reaches 200 million units 2014 Cumulative global production reaches 300 million units 2014 The Honda Super Cub becomes the most produced motorcycle in history (87 million units) 2018 Cumulative annual production exceeds 20 million units for the first time 2019 Cumulative global production reaches 400 million units 2022 Honda's electrification journey begins in Europe 2023 Honda introduces its Honda E-Clutch technology 2024 Honda introduces new V3 concept engine with unique electrical compressor 2025 Cumulative global production reaches 500 million units 2025 2025
