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Japanese auto output slumps in January

Japanese auto output slumps in January
AFP
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First Published: Wed, Feb 25 2009. 11 17 AM IST
Updated: Wed, Feb 25 2009. 11 17 AM IST
Tokyo: Japan’s top automakers Toyota, Honda and Nissan said on Wednesday they had sharply reduced their production in January in response to a slump in sales.
Toyota Motor, the world number one, said its global output had fallen 42.6% in January from a year earlier. Nissan Motor reported a 54.0% plunge while Honda logged a 33.5% drop.
Mitsubishi Motors, Japan’s fourth-largest automaker, said its global production had declined 53.9% in January.
Japanese companies have been idling plants and laying off workers to cope with the global economic crisis, which has sent demand for cars plunging as consumers tighten their belts in recession-hit major economies.
Toyota said its domestic sales had dropped 23.4% in January from a year earlier, excluding subsidiaries Daihatsu Motor and Hino Motors. It did not give a figure for worldwide sales.
Nissan reported a 26.6% fall in global sales for the month.
The falling factory output has taken a heavy toll on Asia’s largest economy.
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First Published: Wed, Feb 25 2009. 11 17 AM IST
More Topics: Economy | Japan | Auto | Honda | Toyota |