Toyota Raises 2007 Global Output on Overseas Demand (Update1)
Toyota Raises 2007 Global Output on Overseas Demand (Update1)
By Makiko Kitamura
Jan. 28 (Bloomberg) — Toyota Motor Corp. and Honda Motor
Co., Japan;s two largest carmakers, built record numbers of
vehicles last year to meet growing global demand for fuel-
efficient models.
Toyota, the country;s largest automaker, raised production
5.5 percent to 8.53 million vehicles in 2007, it said in a
statement today. The figure excludes affiliates Hino Motors Ltd.
and Daihatsu Motor Co. Honda, the second-largest carmaker,
boosted output 7.7 percent to 3.91 million, while third-ranked
Nissan Motor Co. made 3.43 million vehicles, up 6.2 percent.
The automakers built and sold more models such as Toyota;s
Camry sedan and Honda;s Fit compact car as gasoline prices
surged. Crude oil prices rose 57 percent last year, the biggest
annual percentage increase since 2002.
“With rising gas prices, demand for Japanese makers; small
cars is robust,;; said Takashi Aoki, who helps manage about 130
billion yen ($1.2 billion) at Mizuho Asset Management Co. in
Tokyo. “The carmakers will continue to expand production,
particularly in emerging markets.;;
Toyota fell 4.1 percent to close at 5,340 yen on the Tokyo
Stock Exchange. Honda declined 4 percent to 3,140 yen, and
Nissan dropped 5.7 percent to 967 yen.
Overseas Production
Japan;s carmakers are increasing production and sales in
emerging economies such as China, Russia and India as rising
incomes make cars affordable to more people.
Toyota;s overseas output rose 10.5 percent to 4.31 million
vehicles. The Toyota City-based company opened an assembly plant
last month near St. Petersburg, Russia, where it will build
20,000 Camry sedans this year.
Honda;s overseas production rose 12 percent to 2.58
million. The Tokyo-based company began construction of a plant
in Argentina in November and started building plants in India
and Thailand in July.
Nissan;s production abroad rose 13 percent to 2.25 million
vehicles, a record for the Tokyo-based company.
Japanese carmakers are also boosting sales in the U.S., the
world;s largest auto market, amid an overall slump by winning
market share from General Motors Corp. and Ford Motor Co.
Toyota says its U.S. sales may grow 1 percent to 2 percent
this year, slowing from a 3.1 percent increase in 2007. Honda;s
U.S. sales may rise 3 percent to 1.59 million, President Takeo
Fukui said Dec. 19.
Toyota;s 2007 global sales, including those of Hino and
Daihatsu, totaled 9,366,418, according to spokeswoman Yasue
Kato. GM reported 2007 sales of 9,369,524 on Jan. 24, extending
its 76-year reign as the world;s largest carmaker. Toyota
previously reported a preliminary sales figure of 9,366,000.
To contact the reporter on this story:
Makiko Kitamura in Tokyo at
