Japan automakers post 14% drop in August global sales
29/09/2020 07:00
TOKYO, Sept 29 (Reuters) - Japanese automakers saw a 14%
drop in global vehicles sales in August, the sixth straight
month of losses, as the coronavirus pandemic continued to sap
demand even after factories and dealerships reopened.
The country's seven major automakers, including Toyota Motor
Corp 7203.T and Nissan Motor Co 7201.T , sold a combined 1.97
million vehicles last month, according to Reuters calculations
based on sales data released by the companies on Tuesday.
The decline in monthly sales has slowed significantly since
a 50% slump in April, while only Suzuki Motor Corp 7269.T
posted a 2.2% increase in August sales.
Total global production at Japan's seven major automakers
fell 14% year-on-year to 1.84 million units last month, barely
drifting from a 14.4% dip in July.
Global demand for cars has been weak since March due to
virus-related lockdowns in many countries that kept people away
from dealerships. A second wave of infections has forced some
countries to impose tighter restrictions on peoples' movements
again.
Industry experts anticipate that it could take up to five
years for demand to recover to pre-pandemic levels.
(Reporting by Tim Kelly; Editing by Sherry Jacob-Phillips)
((tim.kelly@thomsonreuters.com))