Egypt harvests 315,000 cubic metres of rainwater in Sinai as part of flash flood protection measures    United Bank achieves EGP 1.51bn net profit in H1 2025, up 26.9% year-on-year    Saib posts $16.86m net profit in H1 2025    Resumption of production at El Nasr marks strategic step towards localising automotive industry: El-Shimy    Egypt, UNDP discuss outcomes of joint projects, future environmental cooperation    After Putin summit, Trump says peace deal is best way to end Ukraine war    China's Jiangsu Zhengyong to build $85m factory in Egypt's Ain Sokhna: SCZONE    Egypt condemns Israeli plan to build 3,400 settler homes in West Bank    Egyptian pound ticks up vs. US dollar at Thursday's close    Fitch Ratings: ASEAN Islamic finance set to surpass $1t by 2026-end    Egypt, Namibia explore closer pharmaceutical cooperation    Renowned Egyptian novelist Sonallah Ibrahim dies at 88    Egypt's FM discusses Gaza, bilateral ties in calls with Saudi, South African counterparts    Egypt prepares to tackle seasonal air pollution in Nile Delta    27 Western countries issue joint call for unimpeded aid access to Gaza    Egyptian, Ugandan Presidents open business forum to boost trade    Al-Sisi says any party thinking Egypt will neglect water rights is 'completely mistaken'    Egypt's Sisi warns against unilateral Nile measures, reaffirms Egypt's water security stance    Egypt's Sisi, Uganda's Museveni discuss boosting ties    Egypt, Colombia discuss medical support for Palestinians injured in Gaza    Egypt, Huawei explore healthcare digital transformation cooperation    Egypt's Sisi, Sudan's Idris discuss strategic ties, stability    Egypt's govt. issues licensing controls for used cooking oil activities    Egypt to inaugurate Grand Egyptian Museum on 1 November    Egypt's Sisi: Egypt is gateway for aid to Gaza, not displacement    Korean Cultural Centre in Cairo launches folk painting workshop    Greco-Roman rock-cut tombs unearthed in Egypt's Aswan    Egypt reveals heritage e-training portal    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Toyota China Sales Show Japan Carmakers Shrugging Off Row
Published in Amwal Al Ghad on 03 - 12 - 2013

Toyota Motor Corp. (7203)'s China sales surged in the first month since a territorial dispute between Asia's two biggest economies resurfaced, showing Japanese brands are escaping the type of consumer backlash they faced last year over a group of uninhabited islands.
Deliveries to China rose 41 percent to 89,800 vehicles in November, raising the 11-month total to 809,000, according to a statement from the Toyota City, Japan-based company yesterday. That means that the maker of the Camry will post record sales in the world's biggest auto market this year unless they plunge 18 percent this month.
Toyota's gains were mirrored by Nissan Motor Co. (7201), Honda Motor Co. and Mazda Motor Corp. (7261), illustrating the contrast in the economic fallout between last year's diplomatic row and this year's. China created an air-defense area covering the islands last month, reviving memories of last year and underscoring how Japanese companies remain vulnerable to periodic bouts of tensions between the two Asian neighbors.
"The pressure on Japanese automakers will always be there," said Harry Chen, a Shenzhen-based analyst at Guotai Junan Securities Co. "They need to find the best way to cope with it given that China is a must-have market for them."
China has sent fighter planes into the self-declared zone after announcing its creation on Nov. 23 and said its military will take "defensive emergency measures" if aircraft enter the area without reporting flight plans or otherwise identifying themselves.
Military Flights
The State Department on Nov. 29 urged U.S. airlines to notify Chinese authorities before flying through the defense zone, even as the American military conducts daily flights in the area without such notification. Japan has told its airlines to stop providing flight plans to China.
Last year, the dispute flared after the Japanese government decided to purchase the islands from their private owner, triggering protests across China, with some demonstrators torching dealerships and vandalizing cars associated with Japan. Toyota and Nissan posted their first annual sales declines in China following the riots.
Nissan's sales in China jumped 96 percent to 131,800 vehicles last month, while Mazda increased deliveries by 68 percent to 20,465, according to data from the companies. Honda doubled its sales from a year earlier to 83,013.
Nissan, which sells more cars in China than any Japanese automaker, has fully recovered from the anti-Japan consumer backlash, Ren Yong, vice president of Dongfeng Motor Co., said Nov. 21 at the Guangzhou auto show.
Toyota's luxury Lexus division is seeing "steady, good growth" in China and will post record sales in the country this year, Mark Templin, an executive vice president, said last month.
Source: Bloomberg


Clic here to read the story from its source.