Wednesday, January 28, 2009

Japan carmakers to lose money

Japanese automakers are looking at an ugly third-quarter earnings season that will almost certainly include profit warnings from Nissan Motor Co and others that have not updated their outlooks in the past three months as global vehicle demand shows no sign of reviving.Even Honda Motor Co which slashed its forecasts in mid-December, could lower its annual outlook for a fourth time after outlining more production cuts at home for the business year ending on March 31.With production and sales in various markets plumbing multi-decade lows in recent months, operating losses at the top three Toyota Motor Corp, Honda and Nissan.

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