Japan automakers boost exports in Sept. as yen hits 24-yr low

Toyota Motor Corp., Mazda Motor Corp., and Subaru Corp. doubled vehicle exports in September from a year earlier as the negative impact from a global parts shortage eased and the yen fell to a 24-year low against the dollar, industry data showed Friday.

Honda Motor Co., Nissan Motor Co. and Mitsubishi Motors Corp., meanwhile, logged nearly 50 percent increases in shipments from Japan.

Toyota said it exported 168,200 units in the reporting month, about 2.1 times more than a year earlier, as its production recovered from a parts crunch triggered by the spread of the coronavirus in Southeast Asia.

The automaker's global output hit a record 887,733 vehicles, up 73.2 percent. Domestic production totaled 275,605 units, up 101.5 percent, and overseas production came to a record 612,128 units, up 62.9 percent.

Mazda saw its exports double to 52,341 cars as it increased production of CX-5 sport utility vehicles for shipment to North America, Europe and Oceania.

Subaru's export jumped 2.2 times to 40,271 units.

The surge in exports by Japanese automakers came as the yen fell sharply against the dollar in September due to widening interest rate differentials between Japan and the United states.

A falling yen typically boosts automakers' profits earned overseas when repatriated. The automakers, however, denied that their decisions to increase exports were based on the Japanese currency's depreciation.

© Kyodo News