Japan see gains for its auto companies

Although the US auto mobile companies continue to struggle, the outlook is a little more optimistic in Europe and Japan. It appears that Japan’s top three automakers are saying that their global production in July rose to records for that month.

Because of this news it appears that Toyota Motor Corp is coming ever increasingly closer to passing up General Motors Corp. as the world’s largest automaker, its worldwide output rose 10.2 per cent in July from a year ago, even though the economy is still cold. They believe this growth is actually due to consumers being more money and fuel concious, highlighting solid growth riding on their reputation for fuel-efficient models amid the soaring gasoline prices. Its demand for the Fit subcompact, the best-selling car in Japan for the ninth month in a row, has contributed great to the figure.

All the world’s automakers, chain retailers, car hire, and van rental, etc are struggling to shift and lease their product due to a saturation of gas-guzzling trucks and sport utility vehicles, which end up having lower profit margins compared to the smaller models.

Mitsubishi Motors Corp. was the only major Japanese automaker to report a decline in global production last month at 113,538 vehicles, edging down 0.9 per cent over July 2007.