Tuesday, September 30, 2008

Slumping U.S. market hurts Japanese automakers

TOKYO–The slumping U.S. auto market reduced vehicle production in August at most major Japanese automakers, according to data released Thursday.

Toyota Motor Corp., the nation's top automaker, saw worldwide production dive 15.5 per cent last month from a year earlier at 626,745 vehicles.

Toyota marked its on-year overseas production decrease in more than six years amid a slowdown in Europe and North America, while production in sluggish Japan also dropped on year, it said.

Honda Motor Co. reported its best vehicle production ever in China for August but saw production in troubled U.S. plunge 10.2 per cent from the previous year. Japan's second biggest automaker produced 295,541 vehicles worldwide in August, down 4.8 per cent on year.

Nissan Motor Co. said its U.S. production dropped 24.7 per cent in August, although performance was better in China and some other overseas regions. Nissan's worldwide production in August decreased 5.5 per cent on year to 252,609 vehicles.

Mazda Motor Corp., an affiliate of Ford Motor Co. of the U.S., which has introduced some new models lately, bucked the trend. Its worldwide production in August gained 4.1 per cent from a year ago to 97,242 vehicles, the Hiroshima-based manufacturer said.

Mitsubishi Motors Corp. reported a 17.1 per cent decline in global production at 90,987 vehicles in August amid slowing output in Japan and the U.S.
Automotive Blogs - BlogCatalog Blog Directory TopOfBlogs