Written by Jonny Williamson
The top three Japanese car manufactures, Toyota, Honda and Nissan, have all released figures for January 2012 showing a marked increase in production output. The last year saw huge losses for the three companies, among a myriad of others, due to a devastating double blow from natural disasters. The tsunami-quake in March affected much of Japan’s industry causing the closure of many plants across the country. With the clean-up operation at home in full swing, Thailand was suddenly hit with severe flooding during the monsoon season in late July.
Many of Japan’s automobile and computer hard-drive companies have their production faculties in Thailand, with the floods causing widespread destruction throughout the country. The majority of factories were forced to close causing a severe drop in output for many of those affected.
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To counter the potential effects the closures could have had on the country’s economy, the Japanese government introduced a purchasing incentive in the form of subsidies on the sale of new cars. With foreign production beginning to weaken, the incentives helped raised domestic demand with output surging, compared to the previous six months.
By early-December, much of Japan’s car industry had recovered, with Toyota, the country’s biggest car manufacturer, posting a January output nearly 18 percent higher than the same month last year. Honda and Nissan also saw a boost in production, with an increase of nearly seven and four percent respectively.