Confirming results that were already foreshadowed by the Japanese Big Three last week, the entire auto industry severely contracted in April, the Japan Automobile Manufacturers Association said today. As a result of ongoing parts shortages caused by the Japan earthquake and tsunami, Japanese automobile production in April 2011 dropped 60% to 292,001 units – a decrease of 439,828. It was the largest fall in production ever recorded.
The economic destruction is mounting at the automakers and suppliers. The total value of automobiles exported for April 2011 was $5,913.446 million – $2,696.405 million for vehicles and $3,217.041 million for parts. This is a decrease of $5,523.561 million or 48 % as compared with $11,437.007 million recorded for the same month of the previous year.
The question remains how long before the industry can resume production at close to normal levels?
Exports were posted at 126,061 vehicles, compared with the 391,540 for the same month of the previous year, a decrease of 265,479 units or 68%. It was the second consecutive month of export decreases year-over-year.
|Japan Auto Export Figures – April 2011|