Posted Jun 22nd 2012 4:15PM
No surprise here. Both Nissan and Toyota have moved to cut production in Japan, according to Reuters.
Nissan has made it clear the automaker will drop capacity from the 1.35 million units produced in 2011 to 1.15 million in 2013. In 2012, Nissan expects to produce 1.22 million vehicles in its home country, though production is expected to increase in countries like China, Brazil and Russia to help offset the drop. The report says Nissan has already stopped production on two lines at its Oppama plant, and the manufacturer has plans to stop production of the Tiida in Japan altogether.
The story is much the same with Toyota. The manufacturer has announced that by 2014, it will cut production in Japan by around 10 per cent to 3.1 million vehicles Before the financial crisis, Toyota produced 3.9 million units domestically. But that was when it still made financial sense to build machines in Japan and export them around the world. Japan has seen its currency strengthen against the dollar, making exports less and less financially viable.