Toyota reports 25th straight month of growth
TOKYO - Toyota Motor Corp. reported its 25th straight month of growth
in worldwide production as it closed in on General Motors' position
as the world's biggest vehicle maker.
However, Toyota's main Japanese rival, Nissan Motor Co., said it
produced fewer cars in November than a year earlier.
Toyota Motor said its global production totaled 736,003 vehicles in
November, up 12.3% from the same month last year. Overseas production
climbed 10.5% to 350,300, while domestic output rose 14.1% to 385,703.
Rising oil prices have prompted drivers to favor fuel-efficient cars,
including the Prius hybrid, Corolla compact and the midsize Camry, the
best-selling model in the U.S. market for eight of the last nine years.
Last week, Toyota executives in Japan laid out a production target of
9.42 million vehicles for next year, a 4% increase over the 9.04
million vehicles it expects to produce this year and more than the 9.2
million that Detroit-based General Motors Corp. is estimated to have
produced this year.
GM has not given targets for next year, but has been forced to scale
back production after seeing its market share eroded by Toyota and
other Asian automakers, which have a reputation for better fuel
Nissan, Japan's No. 2 automaker, said its global production fell 1.1%
to 291,737 vehicles in November from a year earlier.
Nissan, which has an alliance with Renault SA of France, reported
production in Japan during the month edged down 4.9% to 106,163, while
overseas production inched up 1.3% to 185,574 vehicles.
Honda Motor Co. said its worldwide production jumped 10.6% to 328,792
vehicles in November, its 16th consecutive month of on-year growth.
Honda's domestic production rose 15.0% to 126,534, while overseas
output climbed 8.1% to 202,258 vehicles.
Global production at Mazda Motor Corp. rose 1.0% to 112,582 vehicles in
November, with domestic production rising 3.5% to 85,754 and overseas
output dropping 6.6% to 26,828.
Mitsubishi Motors Corp. said its global production fell 3.3% to 118,726
in November. Its domestic production rose 13.2% to 71,685, while its
overseas output plunged 20.9% to 47,041.