TOKYO (MNI) – The auto industry’s vehicle output in October fell
8.4% from a year earlier to 751,620 units, the first fall in 12 months,
data from the Japan Automobile Manufacturers Association showed on
Tuesday.
Passenger car output tumbled 9.7% to 644,965 vehicles, snapping the
12th straight monthly rise, while truck output rose 0.1% to 97,781
vehicles, the 11th straight monthly rise.
Bus production increased 0.9% to 8,874 units, the first y/y rise in
three months.
Domestic vehicle shipments dropped 23.2% to 304,328 units in
October, while exports rose 10.9% to 417,190 units, up for the 10th
consecutive month.
Japanese automakers rushed to cut their output as they braced for a
sharp downturn in domestic demand after the government in September
ended its subsidy for buying low emission vehicles.
Toyota Motor Corp said last week it cut domestic output of Toyota-
and Lexus-brand cars by 22.4% in October from a year earlier, the second
straight month of reduced production, while Honda Motor Co lowered its
domestic production by 0.8%, the first cut in 10 months.
New vehicle sales in Japan fell 26.7% from a year earlier to
193,258 units in October, the second consecutive y/y fall after -4.1% in
September, which was the first y/y drop in 14 months, the latest data
from the Japan Automobile Dealers Association showed.
Monthly vehicle output tumbled to as low as 481,349 units in
February 2009 following the collapse of the U.S. investment bank Lehman
Brothers in September 2008.
tokyo@marketnews.com
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