Report

PSA Autos / New Mobility: Auto sector FY24 Q2 Results and Outlook Review

As the earning season has concluded, investors are taking stock about the auto sector’s FY24 Q2 results and updated guidance numbers. Analyst Julie Boote reviews the key developments in the industry, and how these could affect automakers’ earnings in the second half of the fiscal year.
Underlyings
Hino Motors Ltd.

Hino Motors is a manufacturer of large, medium-duty, and light-duty trucks, buses and passenger vehicles. Co. is engaged in the design, development, manufacture and sale as well as the provision of services of diesel trucks, buses, special-purpose vehicles, industrial and marine diesel engines and spare parts. Co.'s truck models include light-duty truck "HINO Dutro," light-duty/medium-duty truck "HINO Ranger" and heavy-duty truck "HINO Profia." Co's bus models include "Hino Rainbow"and "Hino Liesse." Co. also manufactures passenger vehicles, commissioned from Toyota Motor Corp., including the sport-utility vehicles and commercial vehicles.

Honda Motor Co. Ltd.

Honda Motor is the parent company of a group mainly develop, manufacture and distribute motorcycles, automobiles, power products, and also provide financing for the sale of those products. Principal manufacturing facilities are located in Japan, the United States of America, Canada, Mexico, the United Kingdom, Turkey, China, India, Indonesia, Malaysia, Thailand, Vietnam, Argentina, and Brazil. Co.'s principal business segments are motorcycles, automobiles, financial services, and power products & other business. Co.'s principal automobile products include passenger cars such as "Legend," "Accord," "Inspire," "Civic," "Insight," "City," "Acura RL," "Acura TL," "Acura TSX," and "Acura CSX".

Maruti Suzuki India Limited

Maruti Suzuki India is engaged in manufacturing, purchasing, and selling motor vehicles, components, and spare parts in India, Europe, Africa, Asia, Oceania, and Latin America. Co. offers 14 brands and approximately 150 variants of passenger cars, multi utility vehicles, and multi-purpose vehicles under the Alto 800, Alto K10, Wagon R, Celerio, StingRay, Ritz, Swift, DZire, SX4, Ertiga, Omni, Eeco, Gypsy, and Grand Vitara brands. Co. is involved in the facilitation of pre-owned car sales, fleet management, and car financing. In addition, it provides motor insurance products, accessories, auto card, and driving school services.

Mazda Motor Corp.

Mazda Motor and its affiliates are mainly engaged in the manufacture and sale of passenger and commercial vehicles. Co. provides compact vehicles, sports cars, sedans, mini vans, light cars, commercial vehicles, welfare vehicles and customized vehicles, as well as car accessories. Co.'s principal products are four-wheeled vehicles, gasoline reciprocating engines, diesel engines, and automatic and manual transmissions for vehicles. Co.'s principal brand automobiles include Demio, Axela, Atenza, CX-3, CX-5, CX-8, Roadster, Carol, Flair, Flair Wagon, Scrum Wagon, Bongo, Titan, Familia Van, and Scrum Van/Truck.

Mitsubishi Motors Corporation

Mitsubishi Motors and its affiliates are mainly engaged in the manufacture and sale of motor vehicles including passenger cars as well as component parts. Co. is engaged in the development, design, manufacture, assembly, sale and purchase, import and other transactions relating to automobiles, component parts and replacement parts, agricultural machinery and industrial engines; the sale and purchase of used automobiles; the sale of measuring equipment; and acting as insurance agents in accordance with laws relating to property damage insurance and to automobile damage indemnity insurance. In addition, Co. is involved in the provision of automobile leasing and sales finance services.

Nissan Motor Co. Ltd.

Nissan Motor, along with its subsidiaries and associated companies, is engaged in the manufacture and sale of vehicles, marine products and related parts; and the provision of finance services throughout world. Co.'s principal businesses are automobile and sales financing. Automobile segment manufactures electric vehicles, sedans, sport coupes, compact cars, mini vans, SUVs, pick-up trucks, and station wagons. Co.'s principal brand names include "Leaf," "Infiniti," "Murano," "Altima," "Maxima," "Sentra," "Quest," "Cedric," "Days Roox," "e-NV200," "Note e-Power," "Caravan," "Wingroad," "GT-R," "Farilady Z, among others. Sales Financing segment provides sales financing services..

SUBARU CORP

SUBARU and its affiliates are mainly engaged in the manufacture and sale of automobiles and aerospace-related equipment. The Automobiles segment is engaged in the manufacture, sale and repair of passenger cars and their components under the name of "SUBARU." The Aerospace segment is engaged in the manufacture, sale and repair of commercial and defense aircrafts, helicopters, unmanned aerial vehicles and their components. In addition, Co. is engaged in the manufacture, sale and repair of generators, engine-equipped machinery, agricultural machinery, construction machinery and their components; the leasing of real estate; and the manufacture and sale of temporary houses.

Suzuki Motor Corp.

Suzuki Motor is engaged in the manufacture and sale of automobiles and motorcycles in Japan and overseas. Co.'s business segments are automobiles, motorcycles, and marine. Automobiles segment manufactures and sells light automobiles, compact automobiles and general automobiles including "Swift," "Solio," "Jimny," "Spacia," and "Hustler." Motorcycles segment manufactures and sells compact two-wheel vehicles, light two-wheel vehicles, motorized bicycles and buggies such as "Hayabusa," "GSX-R1000R ABS," and "Skywave." Specialized Machinery segment manufactures and sells outboard motors, engines for snow vehicles, motorized wheelchairs, among others.

Provider
Pelham Smithers Associates Ltd
Pelham Smithers Associates Ltd

Founded in 2009, Pelham Smithers Associates (PSA) provides market intelligence on Asian technology, focusing in particular on Japan. The industries covered by our team of specialists are: consumer electronics, telecomms, pharmaceuticals, internet, electronic parts and materials, automotive technology, retail and capital goods. 

PSA produces both company and sector reports. The focus of PSA’s research is to identify winners and losers as new technologies impact the top and bottom lines of corporations. Critical to our research is the clear explanation of how these new technologies work and how they impact companies and industries. 

The founding partners have worked closely together for twenty years and the team has more than doubled in size since 2012. 

Analysts
Julie Boote

Other Reports on these Companies
Other Reports from Pelham Smithers Associates Ltd

ResearchPool Subscriptions

Get the most out of your insights

Get in touch