Tokyo - Nissan Motor Co sharply cut its earnings forecast for the full year that runs through March 2009 on the yen's rise and slow overseas sales, the company said Friday.
Japan's third-largest automaker lowered its net profit projection by 53 per cent to 160 billion yen for the full year from an initial forecast.
Nissan halved an operating profit forecast at 270 billion yen for the full year and lowered sales by 7.2 per cent to 9.6 trillion yen.
For the second quarter through September, the automaker saw its net profit fall 38.8 per cent to 73.5 billion yen from a year before.
The net profit of Auto major Tata Motors declined 34 percent in the July-September period. Its net profit stands at Rs 346 crore which was Rs 526 crore last year. The company has to pay for high input cost, high interest rates and world financial crisis. The sale of auto major increased 7% to Rs 7029 crore in the same period. But its operating margin fell to 8.13% which was earlier 9.2%.
Stuttgart - Porsche joined other German carmakers Saturday in announcing a temporary halt to production because of dwindling sales triggered by the global economic crisis.
It was recently made official that the Indian arm of Japanese auto major Toyota Motor Corporation would be launching a global small car by 2010-11. The car would also be exported to overseas markets in both developed and developing countries, other than being launched in the domestic market. 
Tokyo - Mitsubishi Motors Corp on Thursday lowered its earnings forecast for the fiscal year that ends on March 31 because of slow auto sales and the yen's recent rise against other major currencies.
Frankfurt - Luxury carmaker Porsche released some of the price pressure on Volkswagen stock Wednesday, announcing in Stuttgart it would unwind futures contracts on up to 5 per cent of Volkswagen AG voting stock.
