Toyota's Domestic July Sales Worst Since 1970 – Production Picking Up Again

The tales of woe continue for Japan’s car makers, although now a slight glimmer of hope can be seen at least: Toyota’s July sales in Japan were the worst since 1970 – down 35.2% over July 2010. That is pretty disastrous.

On the other hand, the 40% or so drops in production seen earlier in the year have abated somewhat, with July’s production down “just” 12.5% over the same period last year. Although this still represents a gaping hole in capacity, the speed with which that gap is being closed is also evident.

Although production in Japan has been hurt significantly, the fact that Toyota’s exports from Japan are only down 5.1% despite the strong Yen just goes to emphasize the relative collapse in demand in the domestic market. This will surely serve to strengthen the hands of those who advocate moving more production out of Japan and being less focused on the domestic market.

Source: MSN (Japanese)