Auto
Toyota, Honda optimistic about profits as customers pay more for scarce cars
Toyota Motor and Honda Motor on Wednesday expressed optimism about their full-year profit prospects as scarce vehicle supplies caused by a chip shortage allowed Japan’s two biggest automakers to charge their customers more.
The Japanese automakers are also benefiting from a weaker yen that raised the value of their overseas earnings.
Toyota and Honda like other automakers are cutting output because they cannot find enough semiconductors amid COVID-related supply chain disruptions and competition for the key component from other industries, such as electronics.
Reuters reports that lower production, however, means their customers are more willing to buy cars with fewer financial incentives that automakers typically offer to lure them.
“We are seeing a further 10 per cent reduction in incentives in North America during the second half of the business year after they halved to $1,000 earlier,” said Kohei Takeuchi, Honda’s senior managing executive officer.
Toyota stuck with its full-year profit forecast of 2.8 trillion yen ($24.25 billion), while Honda upgraded its operating profit forecast for the year to March 31 by 21 per cent to 800 billion yen.
The report notes that supply chain disruptions and chip shortages will continue to affect operations, quoting the two automakers.
This is said to have prompted them to cut costs in a bid to squeeze out more profit per vehicle.
“We don’t expect the imbalance in chip supplies to resolve quickly and the course of coronavirus pandemic is unclear,” a Toyota official told reporters.
“We think that uncertainty will continue into the next business year,” he added.
Toyota cut its annual production target by a half a million more to 8.5 million vehicles, while Honda kept its 4.2 million target, though that was below the 4.85 million it was aiming for at the start of the business year.
Toyota’s 784.4 billion yen operating profit for the three months to December 31 was higher than an average forecast of 716.8 billion yen based on the estimates from nine analysts, Refinitiv data shows.
Honda reports 229 billion yen in operating profit for the quarter, also above an average forecast of 166.2 billion yen based on estimates from nine analysts, Refinitive data shows.
On Tuesday, Japan’s number three automaker Nissan Motor reported its third quarter operating profit almost doubled to 52.2 billion yen as shrinking incentive payments helped it squeeze more profit out of fewer cars.
Auto
Jetour Targets Abuja Market with X70 PHEV as Nationwide Expansion Gathers Pace
Jetour Targets Abuja Market with X70 PHEV as Nationwide Expansion Gathers Pace
Jetour Nigeria is taking its hybrid SUV offensive to Abuja, with the X70 Plug-in Hybrid Electric Vehicle (PHEV) set to headline the three-day Jetour Experience from September 22 to 24 as the automaker accelerates its drive to expand its footprint and capture a larger share of Nigeria’s fast-evolving mobility market.
The Abuja showcase, coming on the heels of a strong Lagos edition that generated significant consumer interest, test drives and sales enquiries, is designed to bring Jetour’s latest technologies closer to customers in the Federal Capital Territory and neighbouring states.
The event at Maha Event Centre, Area 8, will give prospective buyers and auto enthusiasts the opportunity to test-drive the X70 PHEV and other Jetour models while interacting with product specialists and experiencing their technology, safety features, performance and comfort firsthand.
According to the company, expanding the showcase to the Federal Capital Territory was a direct response to rising demand from residents in Abuja and neighbouring states.
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To bolster buyer confidence, Jetour Nigeria—the country’s sole authorised distributor—backs the X70 PHEV with a five-year or 150,000-kilometre warranty.
The distributor operates through an accredited nationwide dealer network, including: Elizade Nigeria Limited,
New Era Auto Vehicle Services Limited, Kojo Motors, Germaine Auto Centre, Tab Autos Limited, R.T. Briscoe Motors, and Mandilas Autos.
The X70 PHEV pairs a 1.5-litre turbocharged engine with a 19.43kWh battery and a dedicated hybrid transmission. Designed to balance performance with fuel efficiency, the vehicle supports fast, slow, engine, and regenerative braking charging options—reducing reliance on external charging infrastructure.
Jetour’s rapid growth in the Nigerian market has earned both private and corporate patronage, driven by competitive pricing, high specification levels, and an expanding service footprint. The brand was named “Fastest Growing Auto Brand of the Year” at the 2024 Nigeria Auto Journalists Association (NAJA) Awards.
With the X70 PHEV leading the Abuja showcase, Jetour aims to deepen customer engagement and consolidate its position in the local automotive market.
Jetour Targets Abuja Market with X70 PHEV as Nationwide Expansion Gathers Pace
Auto
X90 Plus Leads Jetour’s Abuja Drive for Bigger SUV Market Share
X90 Plus Leads Jetour’s Abuja Drive for Bigger SUV Market Share
Jetour Nigeria is taking its premium SUV battle to Abuja, with the seven-seater X90 Plus set to headline the Jetour Experience Abuja from September 22 to 24, as the automaker moves to capture a larger share of Nigeria’s fast-growing high-end family SUV market.
The three-day motoring showcase will give prospective buyers, families and auto enthusiasts in the Federal Capital Territory and neighbouring states an opportunity to experience the X90 Plus and other models in the Jetour range through test drives and hands-on demonstrations.
The Abuja showcase follows the success of the brand’s earlier Jetour Experience in Lagos, where strong customer interest, inquiries and sales momentum reportedly encouraged the company to take the initiative to the Federal Capital Territory.
Jetour Nigeria said growing demand from customers in Abuja and neighbouring states was a major factor behind the decision to expand the experience to the northern market.
Positioned as a full-sized family SUV, the X90 Plus is designed for executives and families seeking a combination of space, technology, performance and comfort without the price tag associated with some luxury SUVs.
The model is offered with 1.6-litre and 2.0-litre turbocharged engines paired with a seven-speed dual-clutch transmission. The powertrain produces up to 254 horsepower and 390Nm of torque.
Inside the cabin, the X90 Plus features a 12.3-inch LCD touchscreen infotainment system, panoramic sunroof, Sony premium audio system and wireless charging.
Its safety and driver-assistance features include a 360-degree panoramic camera, Forward Collision Warning, Lane Departure Warning and electronic stability systems.
Jetour’s growing profile in Nigeria has also earned the brand recognition from the Nigeria Auto Journalists Association (NAJA), which named it Fastest Growing Auto Brand, while it was also recognised as Auto Brand of the Year at the Nigeria Transport Lecture.
To support its expanding customer base, Jetour Nigeria, the sole authorised distributor, operates through seven accredited dealer partners across the country: Elizade Nigeria Limited, Mandilas Autos, R.T. Briscoe Motors, Germaine Auto Centre, Kojo Motors, Tab Autos Limited and New Era Auto Vehicle Services Limited.
The Abuja Experience is expected to provide Jetour with another platform to engage potential customers and reinforce its position in Nigeria’s increasingly competitive SUV market.
Auto
Jetour Takes Award-Winning Dashing, Other SUVs to Abuja
Jetour Takes Award-Winning Dashing, Other SUVs to Abuja
Motorists in Abuja are set for a close encounter with Jetour’s award-winning Dashing and other models as Jetour Nigeria moves to deepen its foothold in the nation’s capital with the Jetour Experience Abuja, beginning September 22.
The three-day motoring event, which runs until September 24, is expected to draw prospective buyers and automobile enthusiasts to a hands-on experience featuring test drives, product demonstrations and direct engagement with Jetour’s seven authorised dealers and product specialists.
The participating dealer network comprises Elizade Nigeria Limited, Kojo Motors, Mandilas Autos, Germaine Auto Centre, R.T. Briscoe, Tab Autos and New Era Auto Vehicle Services Limited.
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The Abuja Experience follows the success of the Lagos edition, which attracted thousands of visitors for test drives and direct engagement with product specialists. According to the organisers, strong demand and inquiries from motorists in Abuja and neighbouring states prompted the expansion of the event to the Federal Capital Territory.
The Dashing has gained attention in Nigeria’s competitive compact SUV segment for its combination of modern styling, technology, performance and competitive pricing.
The SUV is available with 1.5-litre and 1.6-litre turbocharged engines, producing up to 145kW of power and 290Nm of torque, paired with six- or seven-speed dual-clutch transmissions.
Its features include a 15.6-inch central touchscreen infotainment system, panoramic sunroof, wireless charging and smartphone integration.
For safety, the vehicle comes with a 360-degree surround-view camera, automatic emergency braking, lane departure warning, blind-spot detection and multiple airbags.
Beyond vehicle sales, the authorised dealers provide warranty, genuine spare parts and after-sales support to Jetour customers across their respective locations.
The Abuja Experience is expected to strengthen customer engagement and give motorists in the FCT a closer look at Jetour’s growing range of vehicles, while further expanding the brand’s footprint in the northern market.
Jetour Takes Award-Winning Dashing, Other SUVs to Abuja
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