Toyota, which overwhelmed Tesla with its interim financial results, and the shadow of BYD approaching Nissan and Honda - domestic automobile big 3 financial results
The interim financial results for the Big 3 domestic automakers (fiscal year ending April-September) have been completed. Rice due to delays in EV support $Tesla (TSLA.US)$or China $BYD COMPANY (01211.HK)$There was a strong impression that the domestic market was being pushed by, but improvements in “earning power,” such as operating profit and operating profit margins, were evident in the July-September financial results figures, and all three companies revised their full-year forecasts upward.
Looking at the financial results for the fiscal year ending 2023/7/9 of the big 3 domestic companies, Tesla, and BYD (2nd quarter for the 3 domestic companies, 3rd quarter for Tesla and BYD), improvements in profit amounts and profit margins for the Japanese team are conspicuous.
$Toyota Motor (7203.JP)$The operating margin improved 6.5 points from the same period last year to achieve over 10%, and conversely, it greatly surpassed Tesla, which dropped 9.6 points.
BYD continues to rise steadily, seeing as it became clear that Tesla, which was involved in price competition in China, had stalled. Both sales and profit margins have increased significantly, and in terms of the number of units sold $Nissan Motor (7201.JP)$It's getting close.
The biggest factor in the improvement in Japan's Big 3 profits is the effect of the depreciation of the yen. Profits of all three companies have risen due to exchange rate fluctuations in the direction of depreciation of the yen, and their full-year earnings forecasts have been revised upward.
In particular, Toyota Motor Corporation, which had an estimated exchange rate of 1 dollar = 125 yen, is expected to boost operating profit by 1.18 trillion yen for the full year.
While the number of units sold by region for the July-September fiscal year of the Big 3 in Japan increased significantly in North America and Japan, it highlights that China is struggling. It can be said that for future growth, it is essential to rebuild the Chinese business centered on the EV strategy. It seems that it will be important to link this fiscal year's advantage obtained due to the depreciation of the yen to future growth strategies.
Related stocks: $Honda Motor (7267.JP)$
-MooMoo News Mark
Source: Each company's website
Source: Each company's website
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
Read more
Comment
Sign in to post a comment
182628805 : Thank you very much
micky38 : Terrible is BYD
What is the performance of the battery integrated into the car body?
How durable is it?
If they're satisfied, they might surpass Tesla.
naonaonao : Is it certain that BYD will surpass Tesla?