Toyota Motors Stops Production At Plants After Blast In Tianjin

The auto making firm has decided to hold back production of cars in two plants situated in the northen region of China, following the blast in Tianjin.

Toyota Motors has reportedly decided to discontinue some of the production activities at two of its most important production plants following the blast that took place in the chemical plant in Tianjin last week. According to an article published in the Wall Street, it was seen that the Japanese firm is going to halt operations in the plant for a period of three days.

Both these plants of the auto giant are in the northern region of China, which explains why the halt is being observed. This discontinuation is being observed from Monday to Wednesday, where the firm will see to it that the evacuation is done to the fullest. There have been given instructions by the authorities to make sure all the safety measures are taken well so that further business activities can be done without an issue.

This will not only take place in the TEDA plant, but production will also be stopped from three days at the Xiqing plant. Even though this plant is not very near to the area where the chemical plant blew up, the reason for halt of manufacturing in the plant is due to the necessities needed from the TEDA plant without which it is not possible to carry out activities in Xiqing.

Since a lot of other automobile countries have had their cars effected from the deadly blast that took place, companies like Volkwagen AG was also seen, along with Toyota, to see how much damage has so far been done to their assets that were present around the blast. The Tianjin is reportedly the biggest import hub for automobile in the country which got quite damaged after the blast subsided. According to Renault SA, a French auto making company, a huge number of around 1500 cars became a wreck following the blast which is something that has raised concerns of auto makers present all around the where the explosion took place.

As for Toyota, the firm reported that the blast shook up all of building that the Japanese hybrid car owners owned in Tianjin and also ended up breaking the windows and glass of almost all the fragile material around. The logistics building that belonged to the firm also got completely damaged which is why the firm is now observing a still in the production houses.

Recent news has also confirmed that quite a number of other cars manufactured by different companies like Beetles and Volkswagen were also destroyed whereas the latter was not seen to give a definite number to the press.

Bidness ETC - Tesla Motors Earnings Report For 1QFY15

The auto making company managed to beat the analysis of the Street analysts by reporting earnings just a little higher than expectations.

Tesla Motors (TSLA) reported earnings for the first quarter of 2015 on Wednesday, May 6 2015 in which the company proved the expectations of the analysts to be wrong. The smart car makers were seen to report a net loss of around $45 million which made it come around to 36 cents per share. A rise in the loss was seen as compared to the year before when the loss came around at 12 cents per share. As for the GAAP net loss, the car makers witnessed the total loss of $154 million which resulted in coming around at $1.22 per share. Such a loss was experienced by the electric car makers due to the increasing worth of the dollar on a global basis.

The last quarter that was faced by Tesla Motors (TSLA) turned out to be a difficult one for the company as it tried to penetrate into the Chinese market but due to some major issues, it failed to do so. For the last quarter, the net loss that was witnessed by the firm came around at 13 cents per share while the gain turned out to be at 33 cents which beat the estimated earnings of the Wall Street analysts who thought the company would report 30 cents per share for the gains.

The smart car producers reported adjusted revenue of around $1.1 billion for the first quarter which ended up beating the estimations of the analysts at Wall Street who predicted that Tesla sales for the quarter will produce revenue of around $1.05 billion, Bloomberg reported.

In a recent press release by Tesla, the company expected to report the sales of around 10,030 vehicles by the end of the first quarter and this guide number was comfortably met by the firm when it presented the number of cars sold coming around at 10,045. As for the total cars that were produced, the electric car makers made 11,160 vehicles.

Tesla Motors has made an expectation of producing around 12,500 cars by the end of the second fiscal quarter. The firm also reported in the earnings conference call that its plan of selling 55,000 units of the Model S cars is still in progress.