Toyota global production bounces back
Toyota Motor Corp. (TM-N68.26-1.95-2.78%) said Wednesday its global production rose for the first time in a year in August as Japanese automakers continued to recover from the March 11 earthquake and tsunami.
Worldwide output at Japan's biggest automaker climbed 10.6 per cent from a year earlier to 626,817 vehicles. Production rose at both domestic and overseas factories, especially in South Africa, Australia, Asia and Europe.
Its exports of passenger cars climbed 15 per cent, but domestic sales fell more than 25 per cent.
The automaker is preparing to ramp up production in the coming months to make up for losses caused by the March earthquake and tsunami, which wiped out auto parts suppliers. Between October and March 2012, it plans to build an extra 350,000 vehicles.
Rival Nissan Motor Co. also reported robust figures for August. Its global production jumped almost 24 per cent to 385,112 vehicles — its best-ever August performance. The figure was offset in part by a 2.5-per-cent decline in Japan.
Sales in Japan fell 19 per cent, while exports surged 34 per cent.
Nissan said its global gains are being powered by strong demand for models like the Altima sedan, Versa hatchback and Rogue crossover SUV.
Meanwhile, Honda Motor Co. posted its seventh straight month of lower production, lagging behind its main rivals and underscoring the impact of a strong yen and global economic uncertainty. Worldwide output fell 9.3 per cent to 261,524 vehicles.
Honda's sales in Japan slid more than 47 per cent, and exports tumbled almost 38 per cent.
Among Japan's other car makers, Suzuki Motor Corp. posted an 11.5-per-cent decline in global production to 206,049 vehicles.
Worldwide output at Mazda Motor Corp. fell 3 per cent to 94,052 vehicles. At Mitsubishi Motors Corp., it declined about 8.3 per cent to 82,351 vehicles.
Source: The Globe and Mail