Japan's domestic car output drops in March
Japan's domestic car output in March dropped against a year earlier, pressured by sluggish global and domestic sales because of the impact of the Covid-19 pandemic.
Domestic output by the country's eight car manufacturers fell by 8pc against a year earlier to around 791,000 in March. The March output showed an 8pc recovery from February when China's strict quarantine measures against Covid-19 disrupted supplies of auto parts.
Large output falls posted by Toyota, Mazda, Nissan and Honda pushed down the country's overall car output in March. Smaller producers Daihatsu, Subaru and Mitsubishi all increased their March output by 10-14pc each from a year before. Suzuki posted steady output in March.
Japan's domestic car sales also fell by 24pc from a year earlier to 485,207 in March, according to industry data.
Toyota reduced domestic car output by 13pc from a year earlier to around 279,000 in March. Toyota has been forced to cut domestic car output in response to a sharp fall in global car sales amid the coronavirus. The firm's global car sales in March dropped by 24pc from a year earlier to around 682,000.
Domestic car output is expected to significantly fall in April and May as all the eight car producers have plans to intermittently halt production lines at domestic assembly plants, in the wake of the sluggish car sales and under the country's Covid-19 state of emergency effective until 6 May.
The falling domestic car output is taking its toll on Japanese demand for steel and metals products. The country's crude steel output is projected to fall by 26pc from a year earlier to 19.4mn t during April-June as steel producers Nippon Steel and JFE Steel have reduced output. The sluggish car output is also casting a cloud over Japanese production of aluminium and copper products in the current 2019-20 fiscal year.
By Rieko Suda
source: Argus Media
Top News
Six last month
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Gold price faces worst week since 2021 as Fed signals no rate-cut rush
Iron ore price flirts with key $100/t level on firm demand, China stimulus hopes
Gold loses some luster after Trump’s decisive win
Hedge funds slash bullish wagers on gold over Trump election win
Resolute Mining says it will pay Mali $160 million in tax dispute
Families gather at South African mine shaft where hundreds are feared stuck underground
Russia takes aim at US nuclear power by throttling uranium
Earth AI, Legacy Minerals make first greenfield palladium discovery using artificial intelligence
Mexico’s proposed higher mining royalties could block nearly $7bn in investments
Sierra Leone woos miners to clean energy with $11 billion plan
Alrosa plans production cuts and staff reduction for 2025
Chile’s rare salt flat fish face threat from lithium mining project
Endeavour Silver raises $73m for Pitarrilla project
BHP to spend up to $14 billion on Chilean copper expansion
Chile’s rare salt flat fish faces threat from lithium mining project
British Columbia creates new mining ministry to tackle critical minerals amid doubts over capacity
China’s germanium, gallium ban could cost the US $3.4 billion
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Earth AI, Legacy Minerals make first greenfield palladium discovery using artificial intelligence
Mexico’s proposed higher mining royalties could block nearly $7bn in investments
Sierra Leone woos miners to clean energy with $11 billion plan
Alrosa plans production cuts and staff reduction for 2025
Chile’s rare salt flat fish face threat from lithium mining project
Endeavour Silver raises $73m for Pitarrilla project
Chile’s rare salt flat fish faces threat from lithium mining project