Monday, 28th June 2010
In Business In Japan,
Japanese carmakers reveal global production turnaround
Improving demand in the US and Asia saw Japanese carmakers Toyota, Nissan and Honda report a rise in global vehicle production in May.
Toyota saw its output surge by more than a quarter (28 per cent), while Honda saw its production rise by 43 per cent and Nissan by 42 per cent.
As well as healthier demand from the US and Japan, each manufacturer continued to do well in China, which is the world's biggest market for automobiles.
Satoru Takada, an analyst in Tokyo at TIW, told Bloomberg that the future looks bright for all three companies, particularly in emerging markets.
"The north American market will continue to recover in the second half of this year, while the emerging markets such as India, China and Brazil will continue to grow. It will probably take two or three years for global demand to recover," he added.
Toyota, the world's largest car manufacturer, recently revealed a profit of $2.2 billion (£1.4 billion) for the financial year up to March, despite having to recall hundreds of thousands of vehicles worldwide due over safety concerns.
Written by Kimberley Homer