Impact of WLTP on Sales at European Subsidiaries
First written in FY2020-Q1. 2 of 3 entries say "Worsened", first in FY2020-Q2. Latest entry: FY2020.
Vt Holdings moved to the "Worse" side of this theme in 2019, the same year as the typical company in this theme.
The whole theme swung hardest in 2019: 6 of 10 companies on the "Worse" side.
2 other companies' latest entry also says "Worsened".
- FY2020WorsenedAnnual report
「Overseas operations remained difficult as European subsidiaries were affected primarily by WLTP from the second half of the previous fiscal year and used-car purchases were deferred in the United Kingdom ahead of Brexit. In addition, in the fourth quarter, the spread of the novel coronavirus forced a rapid reduction in business activity, including store closures based on lockdowns and other measures.」
While the impact of WLTP and reluctance to purchase vehicles in the UK continued, store closures and reduced business activity due to COVID-19 were added, making the overseas sales environment, including the European subsidiaries, even more challenging. - FY2020-Q2WorsenedAnnual report
「Overseas, the group’s European subsidiaries were primarily affected by WLTP from the second half of the previous fiscal year, while in the United Kingdom there was a tendency to defer used-car purchases ahead of Brexit. Conditions remained difficult recently, although a recovery trend had begun.」
Amid the continuing impact of WLTP, reluctance to purchase used vehicles ahead of the UK's withdrawal from the EU was added, and the overseas sales environment, centred on the European subsidiaries, was described as challenging. - FY2020-Q1First statedAnnual report
「Overseas, mainly the European subsidiaries have been affected by WLTP since the second half of the previous fiscal year. Although sales have recently been showing signs of recovery, the situation remains uncertain.」
The company states that WLTP, a new vehicle certification and emissions regulation in Europe, has actually affected the European subsidiaries since the second half of the previous fiscal year, and that although conditions have recently been recovering, the situation remains uncertain.