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Backing-up the basic thoery behind Andrew Dederer's TTAC editorial on Chinese automotive exports, Toyota is countering a drop in domestic sales by aggressively expanding exports. The JCN Network reports that while ToMoCo's home market sales fell 4.4 pct (to 108,787 units), they ramped-up exports by 9.1 pct (to 208,156 units). Globally, the world's largest automaker increased production in January by 8.4 percent (compared to '07), cranking-out 719,646 units. If you add in sales of ToMoCo subsidies (NOT minority partnerships like some automakers we could name), January's total rises to 801,873 units.
One Comment on “What Recession? Toyota Global Production Up 8.4%...”
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Not to throw water on the fire, but I would remind us all to take this with a grain of salt, as this is production and not actual sales. Toyota has a good hold on supply-vs.-demand, but one month of production increases doesn’t itself prove a great deal.
The expansion in export sales does, however.