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Higher tariffs would deliver a major blow to all global automakers as most, including U.S. ones, rely on imports to source the vehicles and parts contained in them which are sold in the United States. Earlier this week, Denso Corp (6902.T), one of the world’s biggest components suppliers, said U.S. auto tariffs, if implemented, could wipe up to $720 million off annual profit. Ford Motor Co (F.N) last week said tariffs in general could cost it up to $1.6 billion in 2018 in North America. Toyota has been a vocal opponent of tariffs, arguing that 25 percent would increase the cost of its U.S.-made Camry sedan by $1,800 and $2,800 for its Tundra pick-up truck.
The automaker operates 10 production plants in the United States, and locally produces just under half of all the cars it sells in the country, Its share of localised production is lower than the 75 percent of Honda and 3d luke skywalker lightsaber cufflinks 60 percent of Nissan, Detroit automakers Ford and General Motors Co (GM) (GM.N) as well as Fiat Chrysler Automobiles NV (FCA) (FCHA.MI) lowered their full-year profit forecasts last week amid worries escalating tariffs would hurt sales and profit margins, Earlier on Friday, Toyota posted a 19 percent jump in April-June operating profit to 683 billion yen ($6 billion), beating estimates and marking its strongest quarterly performance in two-and-a-half years on the back of higher sales and cost reductions in Asia..
Its global retail vehicle sales rose 1 percent to 2.6 million units in the quarter, boosted by a lift in Asia, where demand for the recently remodeled Camry helped to increase sales by 5.4 percent in China, the world’s biggest car market, during the first six months of 2018. In North America, Toyota’s biggest regional market, sales rose 3.2 percent due to a rise in demand for its pick-up trucks, including the Tacoma and Tundra. Still, profit in the region fell 29 percent as sales incentives continued to weigh.
The automaker maintained 3d luke skywalker lightsaber cufflinks its full-year profit forecast at 2.3 trillion yen, a decline of 4.2 percent, though it now expects the domestic currency to average 106 yen to the U.S, dollar, from an earlier forecast of 105 yen, Overall, Toyota still expects a stronger yen to offset the benefits of cost-cutting and record-high global vehicle sales in the year through March, Separately, Toyota and Isuzu Motors Ltd (7202.T) on Friday said they would dissolve their capital tie-up given limited progress made in their development partnership focusing on diesel engines, As a result, Toyota said it would sell off its 5.8 percent stake in the Japanese truck maker..
FRANKFURT (Reuters) - Audi has stepped up production ahead of a September deadline when it becomes harder to register vehicles as roadworthy, the German premium carmaker said on Friday. From next month, vehicles need to pass new pollution rules known as the Worldwide Harmonized Light Duty Vehicles Test procedure, or WLTP. Cars which are registered for sale ahead of this deadline can still be passed on to dealerships after September. The Ingolstadt-based manufacturer said it had ramped up production ahead of the deadline and therefore does not expect to see a drop in vehicle deliveries this year, even as it faces problems adjusting its portfolio.
“The company expects significant fluctuations during the year in production, inventories and deliveries, as 3d luke skywalker lightsaber cufflinks well as in its key financials,” Audi said in a statement accompanying its latest financial results, “In this context, the first half of the year featured a significant increase in production levels for anticipatory stockpiling.”, Several manufacturers including Audi parent Volkswagen (VOWG_p.DE) and rival Daimler (DAIGn.DE) have said margins may suffer because of delays getting their fleet ready for the new road certification standards..
HONG KONG (Reuters) - Chinese ride-hailing giant Didi Chuxing and Alibaba’s (BABA.N) Ant Financial are in talks with bike-sharing startup Ofo for a joint buyout offer that could value Ofo at up to $2 billion, according to a source with direct knowledge of the discussions. A deal would mark the latest stage of consolidation in China’s once-booming bike-sharing industry, where a series of startups have burned through hundreds of millions of dollars in the fight to dominate key cities, littering the streets with thousands of bikes in the process.
It would bring Alibaba-backed Ofo even deeper into the e-commerce giant’s orbit, just months after Ofo rival Mobike was snapped up in a $2.7 billion 3d luke skywalker lightsaber cufflinks deal by Meituan-Dianping, the on-demand online service provider with links to Tencent (0700.HK), a backer of Mobike, Didi, which already owns a stake in Ofo, has hired a third-party agency to conduct due diligence on the startup’s business and finances, the source said, The offer may be lowered or even dropped if Ofo’s business turns out to be worse than expected after the due diligence is completed, the source said..