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    7201   JP3672400003

NISSAN MOTOR CO., LTD.

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Thai car sales slump to 15-month low in Aug on outbreak curbs

09/23/2021 | 06:08am EDT
Vehicles are seen stuck in traffic along a road in Bangkok, Thailand

(Corrects paragraph 10 to show car exports rose in August, not dropped)

BANGKOK (Reuters) - Thailand's domestic car sales tumbled 38.8% in August from a year earlier as stricter coronavirus containment measures hit economic activity, the Federation of Thai Industries (FTI) said on Thursday.

However, the curbs, imposed in July and August, have been eased https://www.reuters.com/article/idUSL1N2Q006L from this month, which the FTI said should boost car sales later this year.

In August, sales dropped to 42,176 vehicles, the lowest level in 15 months, after July's 11.6% year-on-year fall to 52,442 units, the FTI said.

A microchips shortage also slowed car production, it said.

Thailand is a regional vehicle production and export base for the world's top carmakers, including Honda, Toyota, Mitsubishi and Nissan.

The FTI is maintaining its targets for domestic car sales of 750,000 units and auto exports of 800,000 to 850,000 cars this year.

A motor expo in December will also help boost sales this year, Surapong Paisitpattanapong, a spokesperson for FTI's automotive industry division told a briefing.

"After the lockdown relaxation, clients began to visit showrooms. Auto centres are back to normal," he said.

"Consumer confidence is important. If government measures can build people's confidence, spending will return," he added.

In August, car exports rose 3.78% from a year earlier to 59,571 units, a four-month low, due to delayed production of some models caused by semiconductors and parts shortages as well as outbreaks at some factories.

"If the shortages and the COVID situation ease later this year, our export target should be met," Surapong said.

(Reporting by Satawasin Staporncharnchai and Kitiphong Thaichareon; Writing by Orathai Sriring; Editing by Martin Petty)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
HONDA MOTOR CO., LTD. 0.47% 3411 End-of-day quote.18.54%
MITSUBISHI MOTORS CORPORATION -0.55% 363 End-of-day quote.67.28%
NISSAN MOTOR CO., LTD. 1.54% 588.2 End-of-day quote.5.04%
TOYOTA MOTOR CORPORATION 1.72% 1980 End-of-day quote.24.42%
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Analyst Recommendations on NISSAN MOTOR CO., LTD.
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Financials
Sales 2022 9 400 B 82 270 M 82 270 M
Net income 2022 107 B 933 M 933 M
Net Debt 2022 5 677 B 49 689 M 49 689 M
P/E ratio 2022 21,6x
Yield 2022 0,48%
Capitalization 2 302 B 20 150 M 20 144 M
EV / Sales 2022 0,85x
EV / Sales 2023 0,76x
Nbr of Employees 131 461
Free-Float 45,7%
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Technical analysis trends NISSAN MOTOR CO., LTD.
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Mean consensus HOLD
Number of Analysts 19
Last Close Price 588,20 JPY
Average target price 676,11 JPY
Spread / Average Target 14,9%
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Managers and Directors
Makoto Uchida Executive President & Chief Executive Officer
Stephen Ma Chief Financial Officer & Executive Officer
Yasushi Kimura Chairman
Anthony Thomas Chief Information Officer
Ashwani Gupta COO & Representative Executive Officer
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