Japan’s top three car makers announced record overseas production last year as the migration of manufacturing to lower-cost countries was matched by an increase in overseas demand for Japanese vehicles, a Financial Times report said.
Go deeper with GlobalData
According to the report, Toyota output outside Japan in 2002 rose 20.8% to 2.15 million units, while Honda recorded a 10.8% increase to 1.51 million and Nissan a 6.5% improvement to 1.29 million.
The report said the exodus of production from Japan is set to gather pace in coming years as car makers expand production in China and Thailand, as well as Eastern Europe and North and South America.
The FT said the increase of both production and sales overseas contrasts with the domestic Japanese market, where sales of new vehicles dropped 2% last year, according to the Japan Automobile Manufacturers’ Association. Total sales of new vehicles, including cars, trucks, buses and mini-vehicles, were 5.8 million last year, the second consecutive annual decline.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
