Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Japan
  4. Japan Exchange
  5. Toyota Motor Corporation
  6. News
  7. Summary
    7203   JP3633400001

TOYOTA MOTOR CORPORATION

(7203)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Toyota Motor : Supplier Novares seeks damages from carmakers over canceled orders

10/15/2021 | 11:43am EST

PARIS, Oct 15 (Reuters) - French auto supplier Novares is claiming tens of millions euros in damages from its customers after a global shortage in semiconductor chips has forced many carmakers to halt production and cancel orders.

Novares, which makes plastic components used in one in three vehicles worldwide, is seeking compensation for the cancellations that have left its stocks piling up.

"We have counted 2,000 sudden customer production halts since the start of the year, easily one hundred with less than 48 hours' notice," Novares CEO Pierre Boulet told Reuters.

He said the company would rely on commercial talks, not legal action, to be compensated.

The situation has been especially tense in Europe, Boulet added, highlighting the firm "could not be responsible" for carmakers' financial constraints.

The global chips shortage and supply chain snags have forced carmakers still recovering from last year's coronavirus disruptions to again pause production, as they compete for supplies with the sprawling consumer electronics industry.

Toyota said earlier on Friday it would cut its November production by as much as 15%, while Volkswagen's Skoda Auto warned it "would significantly cut, or even suspend" its production from Monday.

The automotive sector had hoped for improvement by the fourth quarter, but issues in supplying components from Asia could last into early 2022.

"Some of our clients are very polite, they warn us in advance and are ready to compensate the extra costs, but some only want a power struggle" said Boulet. "We are in a macho and somewhat selfish world." (Reporting by Gilles Guillaume; Writing by Sarah Morland Editing by Mark Potter and Louise Heavens)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
TOYOTA MOTOR CORPORATION -0.55% 2001 End-of-day quote.25.74%
VOLKSWAGEN AG 3.79% 167.72 Delayed Quote.6.06%
All news about TOYOTA MOTOR CORPORATION
06:31aTOYOTA MOTOR : TMC Announces Changes to Executive Structure, Senior Professional/Senior Ma..
PU
01:11aTOYOTA MOTOR : TMC Announces Changes to Executive Structure, Senior Professional/Senior Ma..
PU
11/30Japanese shares gain after 3 days of falls, Omicron worries weigh
RE
11/30TOYOTA MOTOR : Other Toyota Businesses
PU
11/30TOYOTA MOTOR : Environmental Initiatives
PU
11/30TOYOTA MOTOR : Six Challenges
PU
11/30TOYOTA MOTOR : Report Library
PU
11/30TOYOTA MOTOR : Site Map
PU
11/30TOYOTA MOTOR : Shareholders & Investors News
PU
11/30TOYOTA MOTOR : Sustainability
PU
More news
Analyst Recommendations on TOYOTA MOTOR CORPORATION
More recommendations
Financials
Sales 2022 31 164 B 275 B 275 B
Net income 2022 2 747 B 24 207 M 24 207 M
Net Debt 2022 18 313 B 161 B 161 B
P/E ratio 2022 10,3x
Yield 2022 2,88%
Capitalization 27 715 B 244 B 244 B
EV / Sales 2022 1,48x
EV / Sales 2023 1,33x
Nbr of Employees 366 283
Free-Float 69,9%
Chart TOYOTA MOTOR CORPORATION
Duration : Period :
Toyota Motor Corporation Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends TOYOTA MOTOR CORPORATION
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 21
Last Close Price 2 001,00 JPY
Average target price 2 368,50 JPY
Spread / Average Target 18,4%
EPS Revisions
Managers and Directors
Akio Toyoda Executive President, CEO & Representative Director
Kenta Kon CFO, Director & Chief Officer-Accounting Group
Takeshi Uchiyamada Chairman
Keiji Yamamoto Chief Information, Security & Software Officer
Seiji Sakai Manager-Information Systems & IT Management
Sector and Competitors
1st jan.Capi. (M$)
TOYOTA MOTOR CORPORATION25.74%244 415
VOLKSWAGEN AG6.06%119 528
DAIMLER AG43.62%100 086
GENERAL MOTORS COMPANY38.98%84 019
FORD MOTOR COMPANY118.32%76 688
GREAT WALL MOTOR COMPANY LIMITED22.56%70 662