Toyota Carmakers Boost Japan Output for Sixth Year (Update2)
Toyota, Carmakers Boost Japan Output for Sixth Year (Update2)
By Makiko Kitamura
Jan. 30 (Bloomberg) — Toyota Motor Corp. and Mitsubishi
Motors Corp. led Japanese automakers in a sixth straight
increase in annual domestic production because of rising demand
in emerging markets.
The country;s 12 automakers boosted their combined output 1
percent to 11.6 million vehicles last year, the Japan Automobile
Manufacturers Association said in a statement today. Exports
climbed 9.8 percent to 6.55 million.
Japanese automakers made more Toyota Camry sedans,
Mitsubishi Lancer Xs and other models as economic growth boosted
demand in Russia and China. That offset falling domestic sales
and lower shipments to the U.S. caused by carmakers opening more
North American plants.
“Demand in emerging markets is growing very fast,;; said
Hirofumi Yokoi, a Tokyo-based analyst at auto-consulting company
CSM Worldwide. “Japanese carmakers; overseas operations are
also expanding, but they will still need exports from Japan to
supplement shortfalls.;;
The country;s vehicle production rose 1.5 percent in
December to 969,457. Exports jumped 15 percent to 635,753.
Toyota Plants
Toyota, Japan;s biggest automaker, boosted domestic output
0.8 percent last year to 4.23 million vehicles. Exports rose 5.4
percent to 2.67 million, mostly to Europe and Asia. Shipments to
the U.S. fell 9 percent after it opened a plant in Texas to make
Tundra pick-ups in November 2006 and partner Fuji Heavy
Industries Ltd. started making Camry sedans in Indiana in April.
Mitsubishi Motors, Japan;s fastest-growing auto exporter,
increased domestic production 12 percent to 846,083 last year.
Exports surged 41 percent, led by demand in Russia. The
carmaker;s Russian sales jumped 46 percent last year to 100,609
vehicles. It;s preparing to build a factory in the country.
Japanese automakers have opened more plants overseas to cut
shipping costs and to reduce the risk from currency
fluctuations. They;re also targeting overseas markets after
Japan;s aging population pushed domestic car sales to a 35-year
low in 2007.
Exports made up 56.5 percent of total production last year.
The ratio was the highest ever, according to the association.
Honda Motor Co., Japan;s second-largest carmaker, cut its
domestic production 0.1 percent to 1.33 million vehicles last
year. Exports rose 13 percent to 707,049, led by shipments to
Asia and North America. Nissan Motor Co., ranked third, trimmed
production 4.5 percent to 1.18 million vehicles. Exports were
little changed at 646,140 units.
Toyota rose 20 yen, or 0.4 percent, to close at 5,520 yen
in Tokyo trading. Mitsubishi closed unchanged at 170 yen.
To contact the reporter on this story:
Makiko Kitamura in Tokyo at
