Toyota, Honda Report Increases In Japan Output [Wall Street Journal]
Summary: Demand for fuel-efficient autos is helping Toyota and Honda overcome challenges in their home market. Exports grew 20% and 46% in October for Toyota and Honda respectively, as overseas demand -- particularly in North America -- outpaced overseas production, which was up for the two by 8.1% and 12%. Domestic sales fell for both by 5.6% and 6.2%, respectively. Nissan's domestic sales grew 1.6% due to strong sales of a newly released mini-car. Its exports were off 1.7%, while overseas production increased 9.5%. These are all largely improved numbers for Nissan. The production and export growth at Toyota and Honda extends multi-month strings of increases.
Related links: Press releases: Toyota, Honda and Nissan. Commentary: My Breakfast With Honda Motor Co. • Toyota: Lithium Battery Hybrid In The Works • Toyota Sees Gold in BRIC Auto Markets • Earnings: Toyota, Honda and Nissan.
Potentially impacted stocks and ETFs: Japan Big-3: Toyota (TM), Honda (HMC), Nissan (OTCPK:NSANY), U.S. Big-3: Daimler Chrysler (DCX), Ford (F), General Motors (GM) • ETFs: iShares MSCI Japan Index (EWJ), iShares S&P/TOPIX 150 Index (ITF), BLDRS Asia 50 ADR Index (ADRA)
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