Blogger Notes

London, FRIDAY - the automotive industry such as the global crisis caused at least more consumers who buy new vehicles. Result, several companies have announced profits and reduction of employees. Automotive sector is often used as a reference for the economy, more and more cars means that the consumer economy is built and vice versa.

Producer cars from Japan, Toyota, cut the estimated annual profit of 12.6 billion U.S. dollars to be only 5.5 billion U.S. dollars. Is the main cause of global crisis and the strengthening yen exchange rate.

"This financial crisis hit the real economy and automotive markets. Especially in developing countries that economic growth terkontraksi, "said Executive Vice President Mitsuo Kinoshita in Tokyo, Friday (7 / 11).

Toyota Motor Corp. reported a net profit in the July-September decreased 69 percent to 1.4 billion U.S. dollars. The contraction occurred in the U.S. market, the crisis in the credit markets, and increase exchange rate of yen to press income from abroad is a serious challenge for producers of vehicles from Japan is the largest.

In Britain, the automotive manufacturing industry report states that 23 percent decline in car sales in October 2008 compared with October last year. Throughout October only sold 128,352 units, down from 166,797 units in October 2007. Decrease the lowest since the recession of 1990.

U.S. car producers, Ford, yesterday announced the loss of 129 million U.S. dollars in the third quarter and 10 percent will reduce staff. The figure is better compared with losses of 380 million U.S. dollars in the third quarter last year. Sales of Ford in U.S. market share also dropped 30 percent in September and October this.

Similar incidents also occurred in Europe. German car manufacturer, Daimler, the decline of Mercedes luxury car sales in October of 21 percent to 82,500 units compared with the figure last year.

While sales of car Smart city car that is usually not too many have been sold since last year it increased 6.5 percent to 11,300 units. Since January, Smart sales rose 41 percent, while Mercedes sales down 1.7 percent. The small car fuel sparingly more of a choice than the luxury car.

Competitors Mercedes, BMW, also said sales declined more than 8 percent in October. Sales in the markets in developing countries mengompensasikan decrease in sales in western European countries. Throughout October, BMW sold 113,000 units, down 8.3 percent compared with sales in October 2007. (AP / AFP / Reuters / joe)