Toyota Motor Corp. and Nissan Motor Co. said Monday their domestic production in August declined from a year earlier but at a slower pace than in recent months, as home-market sales rose for the first time in 13 months.
Toyota, the world’s biggest automobile manufacturer by sales volume, said it built 24% fewer vehicles in Japan in August, which compares with a 30% decline in July.
Production at Nissan, Japan’s third-largest car maker, fell 12% from August last year. In July, its output was off 28%.
Although consumers remained cautious, government tax breaks and subsidies spurred sales of fuel-economy cars such as Toyota’s Prius hybrid.
Honda Motor Co., Japan’s second-largest car maker, saw its domestic output slide more steeply in August, off 37% from a year earlier, compared with a 29% drop in July, even though it lifted domestic sales for the second consecutive month by 4.2%.
Auto makers drastically reduced production earlier this year as the global financial crisis sent sales in major markets to their lowest levels in decades.
Source:[online.wsj.com]
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