Toyota, Nissan increase output on overseas demand

Toyota increased global production 8.8 per cent, Honda raised production 5.8 percent and Nissan increased its production 24 percent, the companies said in separate statements today.

The three carmakers have added production in China, the world's fastest-growing major car market, and are planning new factories in India. Sales growth in the U.S. and Japan has lagged behind the pace of the emerging markets.

Sales in emerging markets will outstrip those of the three mature markets by 2010, Armstrong said. Toyota is the fastest-growing overseas automaker in China and expects sales to rise 40 per cent in the country this year.

China FAW Group Corp. and Toyota plan to invest 1.5 billion yuan to boost the capacity at their venture, Toyota said. Honda's global production rose to 329,091 units with overseas output rising 19 per cent on higher demand for the CR-V sport-utility vehicle and the Fit compact.

Nissan's global production rose to 296,760 vehicles in April as overseas output rose 16 percent and domestic output gained 42 percent. Tokyo-based Nissan, 44 percent owned by Renault SA, forecasts higher sales in Russia, China and the Middle East will counter slowing demand in the US and Japan this year.

Nissan and Renault plan to build a $2,500 car in India with partner Bajaj Auto to challenge Tata Motors Nano as the country's cheapest car, Nissan said May 12. The model will go on sale in 2011.

Mitsubishi Motors Corp., Japan's fastest-growing car exporter, cut output 3.5 percent to 101,280 units after shuttering its Australian plant. It will eliminate 105 factory jobs by August at a plant in Illinois, while expanding production in Russia and China. Domestic production rose 6 percent.

Mazda Motor Corp., a third owned by Ford Motor Co., said April global production rose 24 percent to 113,075 vehicles. Production overseas rose 25 percent and output in Japan rose 23 percent.

Suzuki Motor Corp., Japan's second-largest minicar maker, built 233,881 vehicles worldwide, an increase of 13 percent, it said today.