Japanese Automakers Post Mixed Production, Sales Results In May

(RTTNews) - Japanese automakers Toyota Motor Corp. (TM, TYT.L), Honda Motor Co., Ltd. (HMC), Nissan Motor Co Ltd. (NSANF.PK, NSANY.PK), and Mitsubishi Motors Corp. (MMTOF.PK) reported Friday mixed production and sales results for the month of May.

Toyota's total production and sales declined from last year on weak passenger car results, while Honda, Nissan and Mitsubishi posted increased results.

Toyota's worldwide production in May fell 4.5 percent to 821,689 units, reflecting lower production of Toyota and Hino brands, whereas Daihatsu brand production climbed from last year..

Production in Japan declined 6.9 percent to 326,085 units with an 8 percent drop in passenger cars and 0.8 percent decline in trucks and buses. The company's monthly production outside Japan also fell 2.9 percent to 495,604 units.

Toyota's sales in Japan dipped 7.2 percent to 151,889 units mainly on lower passenger car sales. Exports declined 19.6 percent from last year to 130,554 units.

For Honda, worldwide production for May grew 9.4 percent year-over-year to 380,416 units. Production in Japan jumped 50.7 percent to 80,500 units, while outside of Japan it was up 1.9 percent to 299,916 units as growth in Asia, particularly China, was almost offset by lower production in North America,Europe and other regions.

Honda's sales in the Japanese market grew 18.8 percent from last year to 53,988 units mainly with strong growth in registrations. On the other hand, the firm's total exports from Japan fell considerably by 79.4 percent from last year to 2,324 units.

Nissan Motor's global production in May increased 10.6 percent year-on-year to 426,223 units. Production in Japan increased 5.2 percent and production outside of Japan grew 11.6 percent.

In the U.S., production increased 15.8 percent mainly due to increased demand for the new Rogue. In Mexico, and Spain, monthly production increased in strong double-digit rates. Meanwhile, production in the U.K. decreased 8 percent.

Global sales increased 8.4 percent year-on-year to 442,967 units, with 7 percent rise in domestic sales and 8.5 percent increase in sales outside of Japan. Nissan's exports in May increased 12 percent to 32,246 units.

For Mitsubishi, total production for May was 103,112 units, up 10.7 percent from last year. Domestic production rose 25.5 percent to 52,257 units, while overseas production, which includes imports to Japan, slid 1.3 percent to 50,855 units.

In the month, domestic sales climbed 26.4 percent to 8,816 units with 61 percent jump in passenger cars, despite lower sales of commercial vehicles.

Exports totaled 27,409 units, an increase of 16.4 percent from the previous year mainly on strong growth of passenger cars.

Separately, Mitsubishi Motors announced that it has acquired shares of Asian Transmission Corp. or ATC from Mitsubishi Motors Philippines Corp. and Sojitz Corp. As a result, Mitsubishi Motors now holds 90 percent of ATC shares.

Mitsubishi also said, responding to media reports of OEM supply of compact cars from the firm, that the content of the report is not based on anything announced from the company, and is based on speculation.

In Japan, Toyota shares are gaining 0.05 percent and trading at 6,009 yen, while Honda is losing 0.42 percent, and at 3,518 yen. Nissan stock is down 1.86 percent, and trading at 952 yen, while Mitsubishi Motors stock is down 0.62 percent, and trading at 1,118 yen.