Toyota Motor Corp. and Honda Motor Co., Japan's two largest carmakers, led a drop in domestic production among the country's automakers in July as exports plummeted.
Output at the country's 12 vehicle makers fell 32 percent from a year earlier to 742,284 units in July, the Japan Automobile Manufacturers Association said in a statement today. Incentives and subsidies from governments in the U.S., Japan and Europe helped slow production declines compared with June's 34 percent plunge.
Toyota's production in Japan fell for a 12th straight month, dropping 30 percent to 261,099 units from a year earlier, the company said last week. Honda made 79,316 vehicles, down 29 percent, as the company's exports to the U.S. dropped 50 percent.
Nissan Motor Co., Japan's third-largest automaker, built 92,609 vehicles domestically, down 28 percent, with shipments to Europe declining 83 percent and those to North America dropping 17 percent.
