Japan: Auto production up almost 60pct in May image

Japanese automobile production expanded sharply in May, according to Japan Automobile Manufacturers’ Association.

Automobile production in May 2012 was recorded as 781,340 units. Compared with the 489,759 units total recorded for the same month of the previous year, this is an increase of 291,581 units or 59.5%, and production increase on the same month of the previous year for eight consecutive months.

Toyota, Japan’s largest carmaker built 274,811 vehicles in the home market in May, more than double the 107,437 it produced a year earlier. Its domestic sales also more than doubled, to 117,638 vehicles from 50,597, thanks to demand for its Prius hybrid and Aqua compact hybrid.

Honda’s domestic automotive output grew by 113.1 percent in May over the same month last year to 74,043 units. From the beginning of the year (January through the end of May), Honda has produced 495,196 vehicles in Japan (+121.9%) and 1,297,856 units outside its home market (+42.4%) for a total of 1,793,052 (+58.1%).

Nissan said its domestic production rose 5.2% to 84,201 vehicles and domestic sales grew 17% to 44,339 vehicles.

However, Japan’s industrial output fell the most since the March 2011 earthquake and consumer prices declined, bolstering the case for extra stimulus to sustain the nation’s economic recovery.

“The lower output was mainly attributed to such industries as transport… chemicals and general machinery,” the economy, trade and industry ministry said in a statement.

The seasonally adjusted industrial-production figure, released Friday by the Ministry of Economy, Trade and Industry, was worse than the 2.8% decrease predicted by economists. It follows a 0.2% decline in April.

The Bank of Japan has set an inflation goal of 1 percent. The Tokyo core consumer price index, released ahead of the nationwide data, fell 0.6 percent in June from a year earlier.

Reference: Automobile Production Figures by Manufacturer
Automobile May 2012
Units Chg. from prev. year (%)
Toyota 274,811 255.8
Nissan 84,201 105.2
Mitsubishi 39,485 84.0
Mitsubishi Fuso 7,241 181.3
Mazda 67,654 108.8
Isuzu 19,127 119.3
Honda 74,043 213.1
Hino 11,957 169.6
Suzuki 93,480 144.2
Daihatsu 66,660 159.1
Subaru 40,292 179.6
UD Trucks 2,181 114.9
Others 208 123.1
Total 781,340 159.5