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Valor reported that GM would invest in its product line until 2022, and then the following year, the company would start to enjoy tax rebates. Valor, which also reported that GM’s losses in Brazil last year totaled 1 billion reais despite being the country’s market leader, did not specify the exact amount GM would expect to generate in tax incentives. GM declined to comment are cufflinks pretentious. Last year, Brazil’s government granted carmakers a 15-year package of tax breaks – extending subsidies for an industry that has struggled to compete directly with production elsewhere despite high import barriers..
TOKYO (Reuters) – Braced for a possible logistical nightmare when Britain leaves the European Union in March, Honda Motor Co Ltd said on Friday it was preparing to front-load some production at its plant in the country to ship overseas or build up inventories are cufflinks pretentious. The Japanese automaker, which produces the Civic hatchback model at its factory in Swindon, southwest England, may face possible supply chain, production and distribution issues if Britain’s borders are disrupted from March 29, when the country is due to leave the EU..
“To avoid any possible disruptions at the end of March .. we’re making a number of preparations including front-loading some production to ship or step up inventories,” Honda Chief Operating Officer Seiji Kuraishi told reporters in Tokyo are cufflinks pretentious. Carmakers in Britain have warned that their factories, which rely on the constant delivery of parts to enter production cycles, would be severely impaired if Britain leaves without a trade deal, forcing the need for customs checks at borders. Earlier this month, Honda said it would stop its British operations for six days in April to help counter any disruptions resulting from a potentially chaotic Brexit..
Announcing its third-quarter results on Friday, Japan’s third-biggest automaker said increased discounting on its popular CR-V SUV crossover pushed operating profit down 40 percent in October-December, while quality-related costs and currency volatility also stung its bottom line. Honda posted profit of 170.1 billion yen ($1.56 billion) for the quarter, tumbling from 284.5 billion yen a year ago and undermining a median estimate for 208.8 billion yen from 10 analysts polled by Refinitiv are cufflinks pretentious. (Click here for an interactive chart on Honda’s operating profit tmsnrt.rs/2HJvcTt)..
Kuraishi said the company had increased discounts on 2018 model CR-Vs sold in North America, where inventories had built up towards the end of the year, to make room for the current year model. Such discounting helped boost sales in North America to 498,000 units during the period, up from 491,000 a year earlier. While it managed to buck the trend of slowing demand in the United States, higher incentives slashed profitability in the region. (Click here for an interactive chart on Japanese automakers’ monthly vehicle sales in the U.S are cufflinks pretentious. and China tmsnrt.rs/2RjnBuA)..