OEMs – Page 4932 – I wish I had more to offer

Volkswagen nominates further battery cell supplier

With the South Korean battery cell manufacturer SK Innovation (SKI), the Volkswagen Group has named a further strategic supplier for electric vehicles based on the Modular Electric Toolkit (MEB). SKI will supply the batteries for North America and a share of the batteries for the production of Volkswagen Group full-electric vehicles in Europe. The most… Continue reading Volkswagen nominates further battery cell supplier

A million printed components in just ten years: BMW Group makes increasing use of 3D printing

Munich. At the BMW Group, the use of 3D-printed components is on the rise. Over the last decade alone, the company produced a million parts by this innovative method, and this year output from the BMW Group Additive Manufacturing Center is expected to reach over 200,000 components — a 42 percent increase on last year’s… Continue reading A million printed components in just ten years: BMW Group makes increasing use of 3D printing

Revision of Performance Projection for the First Half of the Fiscal Year Ending 2019 (from April 1 to September 30, 2018)

October 23, 2018

Revision of Performance Projection
for the First Half of the Fiscal Year Ending 2019 (from April 1 to September 30, 2018)

Company name: SUBARU CORPORATION
Representative: Tomomi Nakamura, Representative Director, President and CEO
Code number: 7270 (First Section of Tokyo Stock Exchange)
Contact for inquiries: Katsuo Saito, Vice President
and General Manager of Administration Department
Phone: +81-3-6447-8825

Considering the current business trend, Subaru Corporation has announced the revision of performance projection for the first half of the fiscal year ending March 31, 2019 (from April 1 to September 30, 2018) which was released at the timing of consolidated financial results announcement on August 6, 2018.

1. Revision of consolidated basis performance projection for the first half of the fiscal year 2019
(from April 1 to September 30, 2018)

Net sales
Operating Income
Ordinary Income
Net Income*
Net Income
Per Share

Previous projection (A)
Millions of yen
1,463,100
Millions of yen
110,000
Millions of yen
111,700
Millions of yen
79,100
Yen
103.17

Revised projection (B)
1,486,000
61,000
66,000
49,000
63.91

Increase and decrease (B-A)
22,900
(49,000)
(45,700)
(30,100)

Change of percentage (%)
1.6
(44.5)
(40.9)
(38.1)

Actual results of the first half of
the fiscal 2018 (ended
September 30, 2017)
1,608,013
212,125
212,726
85,005
110.87

*Net income attributable to owners of parent

Note: The Company has changed its accounting policies with effect from the first quarter of FYE 2019. Accordingly, the new policies have been retroactively applied to FYE 2018 results before carrying out year-on-year comparison and analysis of net sales figures.

2. Reasons for the Changes

The Company has revised the consolidated performance projection for the first half of fiscal year ending March 31, 2019 as above due mainly to quality-related expenses which offset foreign exchange gains.
The revised projection is based on assumed foreign exchange rates of ¥109/US$(previously ¥105/US$) and ¥131/EUR(previously ¥130/EUR).
Full-year consolidated performance projection for the fiscal year ending March 31, 2019 is currently under examination and will be published concurrent with the release of consolidated financial results for the first half scheduled for November 5, 2018.

3. Dividends

There is no revision of dividend forecast.

Note: Above mentioned projections are based on certain assumptions and our management’s judgment in light of currently available information, therefore actual results may differ from these projections.

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Supplementary explanation on Performance Projectionfor the First Half of the Fiscal Year Ending 2019 (from April 1 to September 30, 2018)

November 1, 2018

Supplementary explanation on Performance Projection
for the First Half of the Fiscal Year Ending 2019 (from April 1 to September 30, 2018)

Regarding “quality-related expenses”, which was the main factor of the amendment, “Revision of Performance Projection for the First Half of the Fiscal Year Ending 2019 (from April 1 to September 30, 2018)” announced on October 23, 2018, is made up of a majority of the cost related to the recall that we reported to Ministry of Land today.

Consolidated results for the first half of the fiscal year ending 2019 (from April 1 to September 30, 2018) and full-year consolidated performance projection for the fiscal year ending March 31, 2019 is currently under examination and will be published concurrent with the release of consolidated financial results for the first half scheduled for November 5, 2018.

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Aston Martin named Luxury Brand of the Year

Published: Nov 06, 2018

Tags:

by
Neil Allison

Aston Martin has been named ‘Luxury Brand of the Year’ at the Luxury Briefing Awards. Heralded as the ‘Oscars of the Luxury Industry’, the aim of the annual event is to reward and celebrate excellence and innovation.

6 November 2018, London: Aston Martin has been named ‘Luxury Brand of the Year’ at the Luxury Briefing Awards. Heralded as the ‘Oscars of the Luxury Industry’, the aim of the annual event is to reward and celebrate excellence and innovation.
Presenting the award, Sir Eric Peacock described Aston Martin as a “powerful, hugely aspirational brand that is the epitome of luxury” and defied anyone in the room not to covet it. He went on to say the last 12 months have been an “Annus Magnificus” for the brand as it “soared into profit, increasing sales by an astonishing 8% in the first half of the year alone…it has been one of the fastest turnarounds and renaissances the luxury industry has ever seen”.
Aston Martin Lagonda Vice-President and Chief Marketing Officer, Simon Sproule, was at The Savoy in central London to collect the award. He said: “It’s a great honour to be named Luxury Brand of the Year. At Aston Martin Lagonda we have a fantastic team that lives and breathes this beautiful brand, working to grow and develop our presence across the world. With each car launch, each new brand partnership or lifestyle event, we get closer to our current and future customers. At a time when the automotive industry is facing incredible challenges we are pushing constantly to make sure the Aston Martin brand, and soon the Lagonda brand, not only stands the test of time but flourishes during this period of change.”
Aston Martin are also delighted that the award for ‘Outstanding Contribution to Charity’ was made to Aston Martin Cambridge, for the special edition Vanquish S that helped raise £1.5 million for the RAF Benevolent Fund. The raffle for ‘Red 10’, the 10th car from a limited edition run of the ‘Aston Martin Vanquish S Red Arrows edition’ raised an astonishing £1.5 million for the RAF Benevolent Fund, which works to support the men and women of the RAF and their families.
The eminent Luxury Briefing judging panel described the Aston Martin’s Red 10 raffle as “a charitable gesture that was tangible, solid and fun…a highly visible but straightforward and simple initiative that provided an excellent blueprint for other brands to imitate.”
The Vanquish S Red Arrows was pioneered and commissioned by Aston Martin Cambridge, whose Dealer Principal Simon Lane accepted the award, saying: “What started as an idea to pay tribute to the spectacular aviation skills of the Red Arrows, quickly became an opportunity to do some great work for charity. Nine very happy customers now own ‘Red 1’ to ‘Red 9’ and ‘Red 10’ has gone on to raise a significant sum for the RAF Benevolent Fund. The whole team at Aston Martin Cambridge is very proud of this project and delighted to accept this award.”

Federal Office for Motor Traffic (KBA) approval: Audi to start recall of diesel models in Germany

On Wednesday Audi will begin the first of eight recalls for cars with V TDI engines in Germany. Following approval by the Federal Office for Motor Traffic (KBA) the company will initially be recalling around 31,200 vehicles to the workshops. In total, around 151,000 midsize and full-size cars in Germany are affected by the eight… Continue reading Federal Office for Motor Traffic (KBA) approval: Audi to start recall of diesel models in Germany

Notice Regarding Year-on-Year Changesin Consolidated Financial Results for the First Half of FYE 2019

November 5, 2018

Notice Regarding Year-on-Year Changes
in Consolidated Financial Results for the First Half of FYE 2019

Subaru Corporation hereby notifies year-on-year changes between the consolidated financial results for the first half of FYE 2019 (April 1 – September 30, 2018) announced today and the corresponding half of the previous year. Details are set out below.

1. Year-on-Year Changes in Consolidated Financial Results for the First Half of FYE 2019

Net sales
Operating income
Ordinary income
Net income
attributable to
owners of parent
Net income
per share

1st Half of FYE 2018 (A)
Millions of yen
1,608,013
Millions of yen
212,125
Millions of yen
212,726
Millions of yen
85,005
Yen
110.87

1st Half of FYE 2019 (B)
1,486,810
55,040
60,010
44,312
57.79

Increase and decrease (B-A)
(121,203)
(157,085)
(152,716)
(40,693)

Change of percentage (%)
(7.5)
(74.1)
(71.8)
(47.9)

2. Reasons for the Changes

In the automotive business, despite strong sales of the fully-redesigned Forester launched in July 2018, unit sales in Japan declined by 17,000 units (21.1%) year-on-year to 65,000 vehicles, as sales of Impreza and Subaru XV models declined compared to their prior year sales which were driven by the launch of their fully-redesigned versions. Despite strong demand for the all-new Ascent launched in North America, overseas unit sales fell by 32,000 units (7.1%) year-on-year to 417,000 vehicles, as deliveries of the Forester decreased before the launch of its fully-redesigned version and deliveries to the U.S. and other markets were adjusted to optimize local inventory levels.
As a result consolidated net sales for the First Half of FYE 2019 declined by ¥121.2 billion (7.5%) year-on-year to ¥1,486.8 billion.
Operating income decreased by ¥157.1 billion (74.1%) year-on-year to ¥55.0 billion due to factors including quality-related expenses and lower vehicle sales volumes, and ordinary income fell by ¥152.7 billion (71.8%) year-on-year to ¥60.0 billion. Quarterly net income attributable to owners of parent also declined by ¥40.7 billion (47.9%) to ¥44.3 billion.

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Revision of Performance Projection for the Fiscal Year Ending March 2019

November 5, 2018

Revision of Performance Projection for the Fiscal Year Ending March 2019

Considering the current business trend, Subaru Corporation has announced the revision of performance projection for the fiscal year ending March 2019 which was released at the timing of consolidated financial results announcement on August 6, 2018.

1. Revision of consolidated basis performance projection for the fiscal year ending March 2019
　(from April 1 to March 31, 2019)

Net sales
Operating Income
Ordinary Income
Net income
attributable to
owners of parent
Net Income
Per Share

Previous projection (A)
Millions of yen
3,250,000
Millions of yen
300,000
Millions of yen
305,000
Millions of yen
220,000
Yen
286.94

Revised projection (B)
3,210,000
220,000
229,000
167,000
217.80

Increase and decrease (B-A)
(40,000)
(80,000)
(76,000)
(53,000)

Change of percentage (%)
(1.2)
(26.7)
(24.9)
(24.1)

Actual results of the first half of
the fiscal 2019 (ended
September 30, 2018)
3,232,695
379,447
379,934
220,354
287.40

2. Reasons for the Changes

Full-year forecasts for FYE 2019 are revised from the previous announcement made on August 6, 2018, to reflect factors including a decrease in consolidated unit sales and an increase in quality-related expenses.
Currency rate assumptions: 110 yen/US$, 130 yen/euro

3. Dividends

There is no revision of dividend forecast.

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Nissan: Alliance Ventures invests in Transit, a Montreal-based multi-modal transportation mobile app

Transit’s mobile app aggregates and maps real-time transportation data, functional in more than 175 metropolitan areas around the world PARIS, TOKYO and YOKOHAMA – Alliance Ventures, the strategic venture capital arm of Renault-Nissan-Mitsubishi, has announced today that it has invested in the latest round of funding in Transit, a multi-modal transportation mobile app company based… Continue reading Nissan: Alliance Ventures invests in Transit, a Montreal-based multi-modal transportation mobile app

Nissan: Nissan Group reports record October 2018 Canadian sales

Mississauga, Ont. – Today, Nissan Group announced a best October ever with total Canadian sales of 12,198 units for October 2018, an increase of 5.4 per cent year-over-year. Nissan Division also achieved a record October with sales of 11,296 units, up 7.7 per cent from 2017. INFINITI sold 902 vehicles in October, a decrease of… Continue reading Nissan: Nissan Group reports record October 2018 Canadian sales