The big three Japanese automakers, Toyota, Nissan, and Honda, have on Monday reported significant production and sales increases for the month of April as the sector continues its recovery from last year's devastating tsunami and the Great East Japan earthquake, which had impacted supply chains and demand.
Japan's auto industry suffered one of its worst months on record in April last year due to the earthquake and tsunami on March 11, 2011. This was followed by flooding in Thailand later in the year that had a significant impact on the supply chains as Japanese manufacturers had plants in the country.
However, production as most of the Japanese automakers returned to pre-quake/tsunami levels by the end of 2011.
The Japanese government also launched a subsidy program for environmentally-friendly vehicles sold in Japan that boosted vehicle demand earlier in the year. Automakers expect the government to continue the incentives at least until September 2012.
Japan's biggest car maker by volume, Toyota Motor Corp. (TM: Quote), reported that domestic production of Toyota brand soared for April more than five-fold to 275,761 vehicles from last year's dismal 64,839 vehicles.
Toyota brand's domestic sales for the month also more than doubled to 107,826 vehicles from 52,666 vehicles a year ago, reflecting strong demand for hybrid and other fuel-efficient vehicles. Meanwhile, exports skyrocketed to 180,050 vehicles from a mere 618 vehicles in April 2011.
Toyota brand's total worldwide production surged 125 percent in April to 695,487 vehicles from 83,403 vehicles a year ago.
Japan's second-largest car maker Nissan Motor Co. (NSANY.PK) reported April domestic production of 85,734 vehicles, up 94 percent from last year, boosted by increased exports of Juke and increased demand for Serena.
Nissan's domestic sales for the month surged 64 percent to 39,413 vehicles, and exports sky rocketed 260 percent to 52,660 vehicles from last year.
Nissan's global production in April increased 49 percent to 369,522 vehicles, and global sales rose 13.6 percent to 364,173 vehicle from a year ago.
Japan's third-largest car maker Honda Motor Co. (HMC: Quote) reported a more than five-fold increase in domestic production to 87,049 vehicles from last year. Domestic sales more than doubled to 55,500 vehicles from last year. Exports soared 240 percent to 21,977 vehicles from last year.
Honda's total global production surged 154 percent to 351,663 vehicles from last year.
Other Japanese automakers such as Suzuki, Mazda, Mitsubishi, Daihatsu Motor Co., and Fuji Heavy Industries Ltd. (maker of Subaru brand cars) have all reported significantly positive production, sales and export results for the month of April.
| || |
| To receive FREE breaking news email alerts for Toyota Motor Corp and others in your portfolio|
by RTT Staff Writer
For comments and feedback: email@example.com