Last May, the global vehicle production of Toyota Motor Corp., Honda Motor Co. and Nissan Motor Co. increased as they benefited from the growing demand in Asia and the US. In a statement from Toyota, it was revealed that its output went up by 28% from a year earlier to 568,004 vehicles. Its exports increased by 15% to 115,280 vehicles.
Last year, the carmakers lowered their output to reduce inventory amid the financial crisis. In China, car sales continued to increase, with industrywide deliveries of passenger cars, trucks and buses having increased by 26% in May to 885,800.
Satoru Takada, an analyst in Tokyo at TIW Inc., said that in the remaining months of this year, the North American market will continue to recover.
The emerging markets, including India, China and Brazil, are also expected to continue to grow. He predicted that it's likely that it will take two or three years for global demand to return to the levels before the recession.
Meanwhile, Honda released a statement, disclosing that its output rose 43% to 278,543 vehicles. Nissan, which is ranked third by unit sales among Japanese carmakers, said that it produced 309,287 cars and light trucks, a 42% increase. [via autonews - sub. required]