The Wall Street Journal (Tokyo) - Japan's auto production and exports suffered record falls in April, as parts shortages in the aftermath of the March 11 earthquake and tsunami disrupted manufacturers' operations for the month, the Japan Automobile Manufacturers Association said Tuesday.
Vehicle output sagged 60% to 292,001 vehicles in April from the year-earlier month, the association said. This marks the largest ever fall in auto output, eclipsing the record of 57% set the previous month, a JAMA spokeswoman said. The production volume figure was also the lowest since January 1968, she added.
The plunge in domestic production curtailed shipments of vehicles from Japan, denting exports in April by 68% from the year-earlier month to 126,061 vehicles, the JAMA spokeswoman said. The fall in exports was also a record, as was the low volume.
While Japanese car makers restored their auto assembly factories during the month of April, a scarcity of parts such as rubber and resin products and electronic devices from quake-hit suppliers limited their production volumes.
Toyota Motor Corp. and Honda Motor Co. on Friday reported record production falls in April, with drops of 78% and 81%, respectively. Nissan Motor Co. also said it logged a 49% fall in domestic output that month.
But Japan's top three car makers expect their production at home to pick up over the next few months, as more suppliers return to normal operations.
Meanwhile, the government-backed Development Bank of Japan plans to set up a fund with a leading association of parts makers to inject capital into auto-parts manufacturers hit hard by the quake and tsunami to help speed up their restoration efforts, a DBJ official said Monday.
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