Japanese companies operating in Dubai are preparing to set up a chamber of commerce and industry to promote the exchange of information, according to recent media reports from Dubai.
The first such Japanese chamber of commerce in the Middle East will begin operating after will begin operating after getting approval from the local authority. The chamber is expected to have 100 member companies in the first year.
TOKYO - Toyota lowered its global sales target for 2009 by 700,000 vehicles to 9.7 million Thursday, showing that even one of the world’s most durable automakers is being hurt by rising material costs, a slowing U.S. market and soaring gas prices.
Toyota Motor Corp had previously set a 2009 global sales goal of 10.4 million vehicles. The lower target would still be a 2% increase from the company’s 2008 sales goal of 9.5 million. But even that figure was reduced last month from an initial 9.85 million units.
Toyota has been on such a potent growth track in recent years it is getting closer to ending General Motors Corp.’s 77-year run as the world’s top automaker by sale
The global auto market took another turn for the worse as carmakers in Europe and Asia forecast bleak times and their American counterparts began a round of closures and job cuts.
Carmakers face a sharp drop in sales as drivers put off major purchases on fears of recessions from East to West and the cost and difficult of getting loans. Financial results from Daimler of Germany, Hyundai of South Korea and Fiat of Italy added to the gloom.
Widespread auto production cuts are pressuring suppliers of parts like pistons, valves and oil pumps.
Most automakers see 2009 as their acid test to make any profit and a few may either merge with others or simply get out of business, unless government bailout is not coming to rescue them within a few months.
Auto sales in Japan in the first half of this business year slumped to their lowest level in 34 years as rising unemployment and decade-high inflation sapped demand for new vehicles, and industry association said recently in Tokyo.
Sales in April-September fell 2.9% to 1.54 million vehicles, the lowest since 1974 the Japan Automobile Dealers Association said. The total excludes minicars.
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Kolkata (India) : Over a decade after Hindustan Motors last rolled out a new vehicle with its badge, the C K Birla company unveiled a mini-truck on Tuesday that is co-branded with Chinese auto firm Shandong Shefing.
The HM-Shifeng Winner will roll out of the Uttarpara plant that last witnessed a launch - the Contessa sedan - in 1983. The last HM vehicle to be launched was the RTV in 1998 from its Pithampur plant.
Introducing the 2.3 tonne Winner that can carry a 1 tonne payload and compete directly with Tata Motors’ Ace, HM managing director Ravi Santhanam said the Uttarpara plant would manufacture 1,000 mini-trucks a month, thereby utilizing capacity that has been lying idle ever since Ambassador sales began to plummet with the entry of Maruti Udyog 25 years ago.
Acknowledging that the mass market Ambassador had been reduced to a niche product in an extremely competitive market, Santhanam said the company would henceforth concentrate on commercial vehicles and supply of ancillary parts to auto manufacturers.
“By March 2009, we hope to introduce two more variants of the Winner including the CNG model. In the ancillary business (forging, casting and stamping), we have already begun supplying to commercial, utility and tractor manufacturers,” Santhanam said.
Ruling out any foray into passenger segment under the HM badge (the company will continue to assemble Mitsubishi line of products from the Chennai plant), he said the company would remain focused on the existing line (read Ambassador), ancillary and commercial mini-trucks with the Chinese partner.
Earlier, state chief minister Buddhadeb Bhattacharjee reiterated the government’s keenness to draw investment in the automobile and ancillary sector despite the setback following Tata Motors’ pullout from Singur. “That HM has rolled out a new vehicle in this rather dismal atmosphere is praiseworthy. We have to encourage more auto companies to set up shop in the state,” the CM told Birla.
New vehicle prices in =
America are=20
falling at the fastest rate ever recorded, a team of analysts said =
recently in=20
New York, squeezing automakers’ profit margins at a time of slumping =
sales but=20
setting the stage for a sales rebound once America’s economy =
improves.
An auto analyst = Himanshu Patel at=20 JP Morgan and economic analyst Marc Levinson said in a research report = that the=20 average price of a new vehicle in the second quarter fell 2.3 percent = from a=20 year earlier to $25,632, citing government data.
That’s the steepest = drop recorded=20 in the bank’s 41-year-old survey, the analysts said.
The price drop comes = as=20 automakers in America are already cope with mounting losses, declining = sales and=20 a shift away from high-margin trucks and sport utility vehicles toward=20 lower-priced cars.
Although vehicle = sales are=20 expected to remain weak in the near term, the analysts said, the price = decline=20 is leading to better affordability and could translate into a big = recovery for=20 auto sales by the second half of 2009.
The analysts = attributed the=20 decline in average price to two factors. First, demand among consumers = has=20 shifted from trucks to less-expensive cars due to the run-up in gas = prices, they=20 said.
Second, consumers are = trading=20 down within both the car and light truck categories to cheaper, more=20 fuel-efficient models overall, they said.
Export of Japanese used vehicles has already reached $7 billion business in 2007. Despite the high cost of transport, the sale of used vehicles to other countries is still profitable in Japan due to the relatively low cost and good condition of the vehicles being purchased here.
Contributing factors to the viability of the vehicles for export include strict inspection tests in Japan, strict environmental laws in Japan that make vehicle disposal expensive in Japan.
The most popular destinations for used vehicles from Japan are Russia, New UAE, New Zealand, United Kingdom, Australia, Ireland, Chile, Pakistan, Peru, Kenya, Singapore, Magnolia and South Africa.
Auto auctions as main source for export
1.. Used car exporters or export agents, have a number of sources at their disposal to buy used vehicles in Japan. 2.. Japanese used cars are mainly sold in Japan at auto auctions by car owners and dealers. 3.. At auto auctions, owners are hidden from bidders while the auctioneersprovide independent car evaluations called Inspection Sheets and place forsellers and buyers to meet. 4.. Although auto auctions are primarily for residents in Japan, seekingan alternative from buying at car dealerships, many exporters, acting as abidding agent for the importer, use this as their main supply source. 5.. There are 30 major auto auction groups operating throughout Japan likeUSS, JAA, JU Group, TAA etc. 6.. There are about 200 auto auction sites in Japan. Besides auto auctions, exporters have access to two other sources to buy vehicles for export.
1.. Used car dealers with limited stock and high prices. 2.. Private sellers of used cars but the process is too difficult to use. Japan’s simple export procedure. Used vehicles selected for export from Japan must be prepared before shipping.
1.. This includes deregistering the vehicle with the government, gettingan export certificate, and cleaning the car from bio-security risks. 2.. Car cleaning is necessary for export to Australia and New Zealand. If you want to contact Japanese used cars exporters and importers then please visit www.JapanAutoPages.com and send your enquiries and offers to thousands of our members.
Overseas buyers can keep checking these Websites of major auto auction companies in Japan to survey used vehicles, motorcycles and construction machinery/equipment displayed for auction.
If you are looking for Japanese used car auction agents then please click here: JapanAutoPages.com
