Japan’s automobile output up in February

The Japan Automobile Manufacturers Association (JAMA) said that for the fifth straight month, the country’s automobile output was up in February. Output increased by 19.7% from a year before to 952,268 units. The increase is a reflection of the recovery in domestic demand following the government’s decision to re-instate subsidies for environmentally friendly vehicles. As a result, production of mini-vehicles grew by 32% to 140,088 units, the highest figure for February. Sales were greatly improved by new models with improved fuel efficiency. The country’s auto exports were also up for the second consecutive month. In February, exports rose by 5.3% to 454,449 units. However, exports to Europe were down for the third straight month, by 25%, due mainly to the financial crisis in the region. Exports to North America were up for the seventh straight month, with a 23% increase following economic recovery in the region. (March 30, 2012)