Japanese automakers report record output levels
According to recent market reports, Japanese automakers posted record production levels for 2003. Toyota Motor Corp produced 6.08 million vehicles worldwide in 2003, up by 7.8% compared to 5.64 million vehicles recorded in 2002. Toyota announced that its global sales, including subsidiaries Daihatsu Motor Co. and Hino Motors Ltd, amounted to 6.78 million vehicles for 2003. Toyota surpassed Ford Motor Co which is the world's second largest automaker in terms of global auto sales, after General Motors Corp. Moreover, Honda produced 2.97 million vehicles in 2003, up by 2.4% compared to 2002. However, Honda's domestic sales decreased by 18.6% to 734'982 units. Nissan reported its global production as 2.96 million units for 2003 with an increase by 9.8% compared to previous year. Automaker's domestic sales were also up by 6.6% to 825'094 units. With this domestic sales, Nissan became the Japan's second automaker for the first time in four years.