Forex moves sideswipe global carmaker hopes
Updated:7 years, 6 months ago
New Delhi, Apr 27 (ANI): Recent sharp moves in the euro, yen and dollar are putting bumps in the road for the world's biggest carmakers. In just one day, Daimler, Renault, Honda and Mazda all blame currencies for a negative impact on revenues, as they report their latest results. With Japanese carmakers getting a chunk of their revenue from overseas markets they're vulnerable to currency fluctuations. Japan's number 3 Honda is forecasting a 16 percent drop in operating profit for the financial year. A firmer yen is expected to offset a slight rise in global sales. And Mazda is warning of 28 percent drop in full-year profit.
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