Automakers may be getting past the worst of the slump after PSA Peugeot Citroen said it generated cash in the first half of 2009 and Daimler AG, Honda Motor Co., and Nissan Motor Co. posted better-than-expected quarterly results.
Countries like France, Germany, and Japan are offering a mix of credits, tax breaks, and subsidies to get consumers to trade in old cars for newer, more fuel-efficient models, helping to stop the plunge in auto demand.
Paris-based Peugeot, rose 2.01 euros, or 11%, to 20.42 euros. The stock has added 68% this year. Stuttgart-based Daimler gained 4.6% to 31.46 euros.
Honda advanced 1.1% to 2,770 yen and has gained 45% this year. Nissan rose 0.8% to 631 yen, bringing gains to 97%. The companies are Japan’s second- and third-largest carmakers, after Toyota Motor Co. (SB)
