20 Articles
Nov 6, 2019 Report
Mitsubishi slashes annual profit forecast on slowing car sales

Mitsubishi reported a 78% plunge in operating profit during the third quarter

Mitsubishi Motors Corp on Wednesday cut its full-year profit outlook by 67% as it expects sluggish demand in North America and China will continue, while a strong yen and research and development costs will also hurt the automaker's bottom line. Japan's sixth-largest automaker now expects operating profit to come in at 30.0 billion yen in the year to March, down from a previous forecast for 90.0 billion yen. The new outlook would be Mitsubishi's lowest profit since the year ended Marc

Reuters
Nov 6, 2019 Report
BMW's reports profit lift on strong SUV sales and improved margins

BMW expects demand for electric vehicles and hybrids to double by 2021

BMW's new chief executive delivered a 33% third-quarter operating profit rise as stronger sports utility vehicle sales and the absence of the one-off factors which depressed earnings a year earlier lifted its earnings. Oliver Zipse, who became CEO in August, said the German sportscar manufacturer is on track to meet full-year targets, unlike rivals such as Ford which have been forced to lower their profit forecasts due to slower sales in China. Sales of BMW's passenger cars rose 3.6%

Reuters
Nov 6, 2019 Report
Subaru cuts annual profit outlook on strength of yen, typhoon impact

The United States is Subaru's biggest market, accounting for about 60% of overall sales

Subaru Corp lowered its annual profit forecast on expectations of a stronger yen and the impact on production from a typhoon last month, driving its shares down as much as 4.5%. Japan's smallest major automaker, which is owned a fifth by top-ranked Toyota Motor Corp , cut its forecast for operating profit to 220 billion yen ($2 billion) for the year ending March 2020, from a previous forecast of 260 billion yen. Subaru revised its forecast for the yen to average 107 versus the

Reuters
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