Toyota's Global Auto Output Drops For First Time in Year on U.S., Europe
Toyota Motor Corp., the world’s biggest automaker, said its global vehicle production fell for the first time in 12 months in September as output dropped in North America, Europe and Japan, reported Bloomberg.
The carmaker, based in Toyota City, Japan, said it produced 672,604 units last month, or 1.3 percent fewer than a year earlier, after it cut output by 16 percent drop in the U.S. and 30 percent in Europe.
Toyota’s exports from Japan fell by 11 percent to 148,836 vehicles in September, while the automaker trimmed production by 1.3 percent outside Japan and by 1.4 percent domestically, it said in a statement. A government incentive program for fuel- efficient cars ended Sept. 8 in Japan.
“Production will continue to be weak for the rest of the year, given a drop in Japan sales after the end of the subsidy program and a weak U.S. economy,” said Masatoshi Nishimoto, an analyst at IHS Automotive in Tokyo.
Shares in Toyota closed 1.1 percent lower at 2,893 yen in Tokyo. The stock has declined 25 percent in 2010.
Honda Motor Co., Japan’s second-largest automaker, said earlier today that its global output rose 9.2 percent to 328,368 units in September, while Nissan Motor Co. said total production surged 27 percent to 395,658 vehicles.
More Industry

RV Group Expands Carolina Footprint
Blue Compass RV Columbia Northeast is the 13th RV dealership owned by Blue Compass in the Carolinas.
Read More →
Agent Acumen
An Agent Summit panel of people who’ve been supporting auto dealers for years gave both timely and timeless advice for those starting out or mulling the prospect.
Read More →
Missed Maintenance Creates Opportunity
As families get back on the road and into daily school routines, service drives have an opportunity to capture customers who are behind on recommended vehicle maintenance.
Read More →
Mitsubishi Unveils U.S. Plan
The automaker announced a strategy that includes an expanded lineup and dealership presence, along with more ‘rugged’ and electric models.
Read More →
Selling to Grow
The question of whether you should sell your agency and if so, when, is up to you. But it’s a question worth asking to ensure you keep the business on the right path for yourself, employees and clients.
Read More →
Recalled Vehicles Hit 5-Year High
Though the number of events has fallen so far this year, impacted units are up significantly. Meanwhile, regulators consider consumer notification changes.
Read More →
Auto Group Acquires Top-Performing Rooftop
Car Pros sold its Kia Huntington Beach location to Sutherlin Automotive Group, marking the buyer’s third location in Southern California.
Read More →
China as Pacesetter
Automotive leaders huddled on where North America stands in the global picture and how it can strengthen its position against the Asian juggernaut’s surging industry.
Read More →
BMW Concept Car Makes Fuel to Burn
The prototype developed in concert with a South Carolina university engineering team generates more solar energy than it uses in a typical daily commute.
Read More →
South Carolina Auto Group Downsizes
Florida-based group Holler-Classic has acquired four rooftops, its first in South Carolina, from Dick Smith Automotive Group.
Read More →