Nissan Stock Up After Report
In recent market activity, Nissan’s Stock rose for the first time in several days on the Tokyo Stock Exchange following a report that the firm plus partner Renault of France
are in negotiating with the Chrysler Corporation to purchase assets. This could be good or bad news, depending on how you look at. I live in hawaii myself and I have noticed that
the Hawaii Nissan dealers are not as busy as in recent months but it still remains one of the more popular vehicles on the road here in Hawaii at least. Actually here in Hawaii it seems that all the Japanese model cars are very popular such as Acura and Honda as well. During the trading day,
Nissan jumped by some 3.5 percent toward the end of the day. All in all, Japanese rivals also rose following a much weakened yen. The Toyota Motor Corporation, for instance, which is Japan’s largest automobile manufacturer, rose by an alright 1.6 percent while number 2, the Honda Motor Company, rose by about 0.4 percent overall.
Furthermore, Renault and Nissan might bid for Chrysler’s Jeep class Division as well as related assets, according to the mainstream media. But it should be considered that Nissan spokeswoman Pauline Kee refused to directly confirm this, at least at this point in time.
For her part, Chrysler spokeswoman Shawn Morgan would not comment nor would Peter Duda, a spokesperson for Cerberus Capital Management LP, the owner of this firm.
The weaker yen obviously increases the value of the dollar-related earnings. This certainly helps out the Japanese auto manufacturing power trio since they generally recieve perhaps half of their operating profits from the America.
If only the American auto industry could figure something out to help themselves as well.
