What Recession? Toyota Global Production Up 8.4%
Published: February 26th, 2008
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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.
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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.