Japan’s car production slumps in April

| May 27, 2011 | 0 Comments
Japan's car production slumps in April

Japanese carmakers have been hit as a result of the earthquake and tsunami in March.

Figures today revealed Toyota, the world’s largest carmaker, said production plunged 74.5% in April on an annual basis.

Meanwhile Honda’s output fell 81% on an annual basis, while Nissan suffered a 48.7% fall as they were forced halt production as a result of parts shortages.

In other news today, Statistics Bureau revealed Japan has overcome deflation for the first time in 25 months after consumer prices rose by 0.6% last month.

A short period of deflation (where prices fall rather than increase) is a serious threat to an economy because it deters consumers and businesses from spending in expectation of falling prices.

Tags: carmakers, , Honda, , ,

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