Toyota, Nissan up global output

Bloomberg

Toyota Motor Corp. and Nissan Motor Co. boosted production in October as government incentives spurred vehicle demand.

Toyota’s output increased for the first time in 15 months, rising 1.4 percent from a year earlier to 709,904 vehicles, the company said in a statement Friday. Nissan’s production climbed 9.9 percent to 306,146.

Domestic vehicle production fell 6.8 percent in October last year, the month after the bankruptcy of Lehman Brothers Holdings Inc. that preceded the global recession. Earlier this month, Toyota narrowed its net loss forecast for the year ending March 31 due to stronger-than-expected car sales. Honda Motor Co. almost tripled its full-year profit estimate and Nissan narrowed its loss forecast.

Honda cut production 18 percent to 301,103 units in October, after exports to Europe and North America fell.

U.S. October auto sales were little changed as General Motors Co. and Ford Motor Co. had their first combined gain in three years. The country’s industrywide sales were down 25 percent for the first 10 months of the year.

The government’s tax-incentive program aimed at increasing domestic demand for fuel-efficient cars helped boost sales 4.4 percent last month.