Toyota Motor Production Declines 10% in August

Exports are off 55% YTD.

Toyota Motor Corporation (TMC) announced its production, domestic sales and export results, including those for subsidiaries Daihatsu Motor Co., Ltd. and Hino Motors, Ltd., for August 2009 this morning and it showed slump continuing, although at a lower rate than previously.

Toyota’s production fell for a 13th straight month, declining 9% to 508,673 vehicles from August a year earlier, though the drop has been shrinking since March, and the company said. Honda’s output fell 17%. Nissan’s production was off 14%.

Year-to-date, TMC production is off 35%.

Toyota’s overseas production in August increased for the first time in 13 months, due to North America and Asia. China posted the largest gain, a 53% increase.

Toyota’s North American production gained 12%. This was largely the result of shutting all production of Tundra and Sequoia trucks last August. That shut down continued for three months.

Last month, Toyota cut production in Japan by 23.8% to 199,084 vehicles, the worst level for August, the company said.

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