Japanese auto companies are likely to post record profits this year as they raise vehicle prices and cut costs to mitigate the hit from soaring inflation, J.P. Morgan analysts said on Tuesday. JPM expects price hikes and cut in some production-related expenses to mitigate 80 per cent to 90 per cent of
Japanese auto companies are likely to post record profits this year as they raise vehicle prices and cut costs to mitigate the hit from soaring inflation, J.P. Morgan analysts said on Tuesday.
"We think product price hikes are likely to go through in North America in particular, backed not only by solid demand but also the Japanese OEMs’ brand positions," JPM analysts said. Japan's largest automaker by sales on Friday cut its global production plan for June for the second time this month and signaled its full-year output estimate could be lowered, highlighting the pain from the supply chain crunch and China lockdown.
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