Two of Japans’ largest automakers and currently the most profitable companies in the US, Toyota Motors and Honda Motor have increased their production last July as overseas demand for their products grow, offsetting the loss of almost 75,000 vehicles they have obtained at their home market brought about by the July 16 earthquake.
Japan’s largest automaker Toyota, producer of Lexus brakes, has boost its global production by 3.5 percent to 736,750 vehicles last July while Honda the second largest has increased its output by 6 percent to 290,845 vehicles that is according to the companies last Tuesday.
The growth in production obtained by Toyota and Honda in Europe and Asia as well as the increased exports to the US have been attributed to the growing demand for fuel-efficient models. The overseas output of Honda has rose to 17.6 percent to 192,859 vehicles while Toyota’s overseas production was up by 22 percent to 356,887 units.
Still with regards to the Japanese automakers but this time involving Toyota, Honda and Nissan---the three Japanese automakers will release vehicles priced at around 700,000 yen to 1 million yen in Brazil, Russia, India, and China to benefit from the increasing demand in these nations, that is according to reports from Nikkei.
Honda has planned to create a new model that is much smaller than its Fit compact car with engine variants of 1.3 and 1.5 liter respectively. This will be offered in India in 2010 or later according to reports from Business Daily.
Meanwhile Nissan is developing a 1 liter small car which is scheduled for release in 2009 with French partner Renault SA. The two companies will use the same platform for their new models but will sell these new models under each of their brand names.
Nissan and Renault aims to keep the price of the new models at around $6,000 to $8,000 as reported by Nikkei. Moreover, Nissan also plans to roll out 500,000 to 600,000 units of the new model from its plants in India, Thailand, and China strating 2009.
On the other hand Toyota for its part also plans to create an entry-level family car for emerging markets like India and hopes to slow enter production in such countries by 2010 and onwards as further reported by Nikkei.
And still in line with Toyota production, Toyota Boshoku America will open a production plant in Itawamba Country, Mississippi and will employ 500 workers. The said Toyota plant will manufacture and supply seats, door panels, and carpets for the automaker’s Highlander sport utility vehicle plant in Blue Springs, Mississippi. The construction of the new plant will commence in 2008 and expected to be fully operational by 2010.
According to Mississippi Governor Haley Barbour as quoted by Bizjournals, "We in Mississippi are excited to have been chosen by Toyota Boshoku as its partner. The company selected North Mississippi for its quality work force and the leadership offered by the state, the county and the local communities."
In addition, Toyota Boshuku will also give a $20,000 donation to the Itawamba Community College Work Force Training and Development Programs. Kiyoshi ‘Nate’ Furuta, Chairman and CEO of Toyota Boshoku America Incorporated said in a statement, "Toyota Boshoku America is a growing company and we plan to continue to meet customer demand by expanding our presence and sales in the U.S. We look forward to becoming an active member of the Itawamba County community."
