Newsfrom Japan
Economy
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.
[Copyright The Jiji Press, Ltd.]
Jiji Press