8 Japan Automakers’ Global Production Down 2 Pct in Aug.

Tokyo, Sept. 29 (Jiji Press)–Eight major Japanese automakers’ combined global production dipped 2.0 pct in August from a year earlier to 1.81 million units, data from the companies have shown. Competition has become harsh mainly in China amid sluggish exports to the United States due to the high tariff policy of the administration of U.S. President Donald Trump. Global production decreased at six of the eight companies, excluding Toyota Motor Corp. and Nissan Motor Co., according to the data released Monday. Worldwide production went down 13.0 pct at Honda Motor Co. partly because output in China declined nearly 20 pct due to intensifying competition with local electric vehicle makers. Production in North America shrank for four consecutive months. Global production slumped 12.5 pct at Subaru Corp. Mitsubishi Motors Corp. saw its production fall 10.9 pct as demand in Southeast Asia, a major market for the firm, slowed owing to the introduction of tougher auto loan screening criteria. At Nissan, which has been undergoing business reconstruction, global production inched up 0.8 pct, the first rise in two months, with steady overseas production backed by growing sales in China and the United States more than offsetting an 18.2 pct drop in domestic output. Both domestic and overseas production was robust at Toyota thanks to a recovery from a test fraud scandal at home and a vehicle recall in the United States. Demand for hybrid vehicles in North America was also strong. As a result, the leading Japanese automaker’s global production increased 4.9 pct. The eight makers’ combined global automobile sales in August dropped 1.7 pct year on year to 1.94 million units. While Toyota and Nissan posted growth, the six other companies suffered decreases partly because of poor domestic sales. END [Copyright The Jiji Press, Ltd.]