Managing Automotive

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Managing Automotive

Big U.S. Auto Discounts Are Hurting Asian Carmakers' Profits

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Big U.S. Auto Discounts Are Hurting Asian Carmakers' Profits

Asian carmakers are taking hits to their profits from having to spend more to move metal in America.  Nissan Motor Co. and Hyundai Motor Co. both cited higher incentive spending in the U.S. as reasons behind a slump in quarterly profit, with a political backlash in China adding to a cloudy outlook for Hyundai, South Korea’s largest automaker. More evidence of the industry’s pain is likely to come next week, with Toyota Motor Corp. and Honda Motor Co. scheduled to report earnings.

[Bloomberg]

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