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    7201   JP3672400003

NISSAN MOTOR CO., LTD.

(7201)
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South African metalworkers' strike hits output at BMW plant

10/11/2021 | 01:16pm EST
FILE PHOTO: The logo of German car manufacturer BMW is seen on the company headquarters in Munich

CAPE TOWN (Reuters) - Output at luxury carmaker BMW's main vehicle assembly plant in South Africa has been hit by a wage strike in the engineering sector by the country's biggest metalworkers union, a company spokesperson said on Monday.

"While our associates have been reporting for work, we have lost production since the strike commenced ... as a number of suppliers to the plant have been affected," Hailey Philander told Reuters.

She said production of around 700 vehicles was lost, but gave no further details.

The National Union of Metalworkers of South Africa (NUMSA) launched the strike last Tuesday after pay talks with employer bodies reached a deadlock, raising fears the action would spill over and block supplies of parts to make new cars.

BMW's plant is at Rosslyn, around 60 kilometres from the commercial city of Johannesburg.

On Friday, NUMSA said its members were considering a new proposal to end the strike. On Monday, the union was still collating feedback before making a decision.

NUMSA, with around 155,000 members organised in the sector, wants an 8% across-the-board wage hike in the first year, and inflation plus 2% for the second and third years.

Industry body Steel and Engineering Industries Federation of Southern Africa (SEIFSA) had initially offered 4.4% for 2021, inflation plus 0.5% in 2022 and inflation plus 1% in the third year.

"It is concerning for the whole autos manufacturing sector that the strike in the metals and engineering space has continued till now, but we know that negotiations to resolve are advanced and we hope a breakthrough is imminent," said Renai Moothilal, executive director at the National Association of Automotive Component and Allied Manufacturers (NAACAM).

Spokespeople at Ford, Volkswagen and Toyota said they had not been affected by the strike so far.

(Reporting by Wendell Roelf; Editing by Promit Mukherjee and Mark Potter)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
BMW AG -6.17% 85.51 Delayed Quote.18.39%
NISSAN MOTOR CO., LTD. -1.63% 628.9 End-of-day quote.12.30%
TOYOTA MOTOR CORPORATION -1.78% 2074.5 End-of-day quote.30.36%
VOLKSWAGEN AG -4.89% 163.94 Delayed Quote.7.56%
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Analyst Recommendations on NISSAN MOTOR CO., LTD.
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Financials
Sales 2022 8 977 B 79 125 M 79 125 M
Net income 2022 174 B 1 535 M 1 535 M
Net Debt 2022 5 886 B 51 878 M 51 878 M
P/E ratio 2022 14,2x
Yield 2022 0,60%
Capitalization 2 462 B 21 716 M 21 697 M
EV / Sales 2022 0,93x
EV / Sales 2023 0,83x
Nbr of Employees 131 461
Free-Float 45,7%
Chart NISSAN MOTOR CO., LTD.
Duration : Period :
Nissan Motor Co., Ltd. Technical Analysis Chart | 7201 | JP3672400003 | MarketScreener
Technical analysis trends NISSAN MOTOR CO., LTD.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 19
Last Close Price 628,90 JPY
Average target price 709,44 JPY
Spread / Average Target 12,8%
EPS Revisions
Managers and Directors
Makoto Uchida Executive President & Chief Executive Officer
Stephen Ma Chief Financial Officer & Executive Officer
Yasushi Kimura Chairman
Anthony Thomas Chief Information Officer
Ashwani Gupta COO & Representative Executive Officer
Sector and Competitors
1st jan.Capi. (M$)
NISSAN MOTOR CO., LTD.12.30%21 695
TOYOTA MOTOR CORPORATION30.36%253 607
VOLKSWAGEN AG13.08%128 585
DAIMLER AG52.93%106 012
GENERAL MOTORS COMPANY49.35%90 291
FORD MOTOR COMPANY130.38%80 924