Strong yen 'encouraging production outside Japan'

Even after some softening against the US dollar, the strong yen remains a "real headwind" for the growth of Japan-based car makers, according to Renault-Nissan chief Carlos Ghosn.

With the "yen (at) 82 from 76 ... I don't call it a retreat; it is still a huge headwind for all the Japanese exporters," Carlos Ghosn, Renault-Nissan Alliance's chief executive, told a press briefing at the 2012 New York International Auto Show on Wednesday.

Many of those Japanese companies are "moving production out of Japan," Ghosen said.

Nissan is in the midst of moving production of its Leaf electric car to the United States for the US market. That will help cut costs, Ghosn explained.

"The consumer should see the benefit of this," he said, noting that plans were under way to have battery production start in Tennessee in August, to be followed by the cars. European production for the Leaf will be based in Britain.

"We didn't go very aggressively for the promotion of the Leaf," he said, in part because it has not been sold nationwide in the United States. "But the car will be available nationwide in July."

The company is hoping to boost US sales to 20,000 units.

Nissan's figures released Tuesday show its US sales rose 12.5 percent in March compared with a year earlier to 136,317 units, or what the company calls "a record month in company history."

Nissan held sixth place in the US auto market in March, beating Honda -- whose sales fell 8.4 percent to 126,999 units -- for the first time in the United States.

Nissan controlled 9.7 percent of the US market share in March, surpassing Honda's 9 percent, according to the consulting firm Autodata.

General Motors posted figures showing it held 16.4 percent of the US market in March, compared with 15.9 percent for Ford, 14.5 percent for Toyota and 11.4 percent for Chrysler.

Loading...

Editor’s note:Yahoo Philippines encourages responsible comments that add dimension to the discussion. No bashing or hate speech, please. You can express your opinion without slamming others or making derogatory remarks.

  • NCCA plans to conduct mapping of Pag-Asa Island
    NCCA plans to conduct mapping of Pag-Asa Island

    The National Commission for Culture and the Arts (NCCA) plans to send researchers to conduct a cultural mapping of Pag-Asa Island, which is part of Philippine-held territories in the disputed Spratlys in the West Philippine Sea. Harold Rentoria, NCCA committee on cultural heritage commissioner, admitted that since two years ago they have been thinking of going to Pag-Asa Island for their cultural mapping project. Cultural mapping is part of the NCCA program Taoid – the Ilocano word for …

  • No CNN interview for senators in ‘pork’ scam
    No CNN interview for senators in ‘pork’ scam

    Cable News Network (CNN) Philippines has been denied a chance to interview detained Senators Juan Ponce Enrile, Bong Revilla, and Jinggoy Estrada, a Sandiganbayan justice said yesterday. Sandiganbayan Presiding Justice Amparo Cabotaje-Tang told The STAR CNN’s request for an interview with the lawmakers, who are being held without bail at Camp Crame, will not be allowed as such may violate a rule preventing parties to an ongoing trial from discussing the merits of the case. CNN Philippines …

  • Tropical depression intensifies into storm
    Tropical depression intensifies into storm

    The tropical depression expected to enter the Philippine area of responsibility on Thursday has intensified into a storm, the state weather bureau said yesterday. PAGASA is looking at two scenarios for Noul. Ignacio said there is a probability that the storm would veer north or toward Southern Japan before it approaches landmass early next week. …

  • PNP to car buyers: Demand LTO plates
    PNP to car buyers: Demand LTO plates

    Those who plan to buy new cars should make sure their car dealers give them their Land Transportation Office plates as soon as possible to avoid being targeted by car thieves, the Philippine National Police (PNP) said yesterday. Senior Superintendent Arnold Gunnacao, director of the PNP-Highway Patrol Group (HPG), said car theft syndicates are particularly interested in stealing brand new sport utility vehicles (SUVs) with conduction stickers serving as temporary license plates. …

  • SE Asia Stocks-Mixed; Indonesia and Philippines end losing streak

    JAKARTA, May 4 (Reuters) - Southeast Asian stock markets traded mixed on Monday with stocks in Indonesia and Philippines rebounding after a recent bout of weakness. The Indonesian stock index closed up ... …

  • 2 coast guard men, village chief, abducted in Philippines

    MANILA, Philippines (AP) — Police say gunmen clad in military uniform have abducted two Philippine coast guard personnel and a village chief on a southern island then sped away in two motorboats. …

  • Filipino on US most wanted list killed: rebels, military
    Filipino on US most wanted list killed: rebels, military

    A Filipino on the United States' list of most wanted "terrorists" has been killed in a firefight in the southern Philippines, Muslim rebel leaders and the military said Monday. Abdul Basit Usman was killed in a remote mountainous area while being escorted by members of the Moro Islamic Liberation Front (MILF), the nation's biggest rebel group, its vice chairman Ghazali Jaafar said. Security forces had been hunting Usman since he escaped from a January police raid that killed Malaysian …

  • SE Asia Stocks-Mixed; Indonesia ends 7-day losing streak

    JAKARTA, May 4 (Reuters) - Southeast Asian shares mostly traded mixed on Monday, with Indonesia and the Philippines rebounding after a recent bout of weakness. Indonesian stock index rose 1.3 percent after ... …

POLL

Should Aquino be held accountable over the Mamasapano operations?

Loading...
Poll Choice Options