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Nissan, Honda have long road to recovery after pandemic

Cons. Discr. - Autos 901 Coronavirus 339 Japan 491 Mexico 696 U.S. 4376

The Japanese automakers faced a challenging Q2 due to a COVID-19 led drop in demand. Nissan has cancelled its dividend and stated that sales for the current fiscal year will drop by 16.3%. Global production by the big seven automakers is still a long way from recovery after falling by 78.9% year over year in June while exports from Japan dropped by 51.6%, led by a slump in shipments from Nissan and Mitsubishi. The prospects for Q3 look tough with Toyota reportedly pushing for out-of-cycle price cuts from suppliers while production in North America may be complicated by new rules under th...

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