Toyota's Global Production Falls; Other Japanese Makers See Output Hike
By Michelle Krebs October 25, 2010Toyota's global vehicle production fell in September, its first year-to-year decline in 12 months.
Toyota said Monday it built 672,604 vehicles in the world, a 1.3 percent drop. The company blamed the drop on weak demand in North America, where it closed its California plant, and Europe.
A Toyota executive said the automaker's production would continue to be weak through year-end due to the end of Japan's subsidy program and a continued weak U.S. economy.
Honda and Nissan production rose on strong demand in China. Subaru and Mitsubishi production also increased.
Toyota said its production in Europe fell by nearly 30 percent; it North America it dipped 4 percent. Toyota closed its NUMMI plant, a joint venture with General Motors, in April.
In contrast, Honda said its global production rose 9 percent, up for the 10th consecutive month on the strong demand for the Fit, not available as a hybrid in Japan.
Nissan production also rose 9 percent, it's 20th consecutive month of year-over-year increase. Nissan production increased 24 percent in China and 31 percent in the United States.
Mitsubishi's global production soared 31 percent.
Fuji Heavy Industries, which makes Subaru vehicles, reported Monday its sales and production so far this year as of Sept. 30. For the first nine months of the calendar year, the company produced 322,237 vehicles, for a 138-percent increase over the same period in 2009. Global sales so far are up 110 percent on the strength of the Subaru Legacy and Subaru Impreza.
Photo by Toyota
A worker assembles at Toyota Camry at the automaker's Kentucky plant.
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and yet analysts still cant figure out Toyota has peaked. Most of them attribute this to recall issues and subsidies ending but its more than that. They have reached their plateau and are facing unprecedented competition from Hyundai, GM and Ford. Now VW is gunning for them as well so I don't see any way they can maintain their current share.
I'll bet their stock went up on the news.
Is Toyota building the Corolla in Mississippi yet? I mean the NUMI plant did produce some Corolla's before it closed up. Wasn't that production of the Corolla to Mississippi or that hasn't happened yet? I know Toyota makes the Corolla in Canada too right?
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