Detroit 3 versus the Japanese 3
You’re starting to hear it in articles, the three biggest Japanese automotive companies, Toyota, Honda, and Nissan referred to as the J-3. Toyota has been pitted against General Motors, so it would follow that Honda would be pitted against Ford and Nissan against Daimler Chrysler.
The one big thing all of them have in common is that they are all making more profit outside of their homeland.
General Motors and Ford are both making more money outside of America and Daimler Chrysler makes most of their money in the United States, while their homeland is Germany.
According to a Wall Street Journal article by Jathon Sapsford and Norihiko Shirouzu dated April 27, 2006, “North America accounts for 34% of Toyotas sales, but about 43% of it’s operating profit’s, according to estimates by CLSA Asia-Pacific Markets, a brokerage firm. Nissan earns at least 60% of it’s operating profit from North America, and Honda earns about 75% of it’s operating profit’s there, CLSA says. The brokerage firm says Honda loses money in Japan. Honda declined to comment.”
General Motors 1st Quarter financial report shows record revenues $52.2 billion with their net loss down to $323million from $1.3 billion. Losses persisted in the global automotive operations, $721 million, and North America at $946 million.
The biggest surprise was by Ford, putting up a $1.19 billion quarterly loss, the worst loss by Ford since 2001 Sadly, Ford Motor Credit came up short as well, with a drop in net income from $710 million for last years 1st quarter to $479 million a year later.