BEIJING—China’s factory activity eked out growth in September, but a slowdown in services sector growth and a downbeat private manufacturing survey pointed to further cooling as the economy grapples with COVID-19 curbs and softening global demand. China’s official manufacturing purchasing managers’ index (PMI) rose to 50.1 in September from 49.4 in August, the National Bureau…
China’s Factory, Services Surveys Suggest Economy Struggling to Rebound
Toyota to Close Its Factory in Russia
MOSCOW—Japan’s Toyota Motor Corp. said on Friday that it had decided to end vehicle production in Russia due to the interruption in supplies of key materials and parts. Toyota had suspended production in St Petersburg in March due to supply chain problems, and stopped importing to Russia. “During this period we have fully retained our…
GM to Invest $760 Million to Shift Ohio Plant to EV-part Production
TOLEDO, Ohio/WASHINGTON—General Motors Co. said on Friday it will invest $760 million at its Toledo, Ohio factory to build drive units for electric trucks, the automaker’s first U.S. powertrain facility repurposed for EV-related production. Th largest U.S. automaker currently builds GM’s six-speed, eight-speed, and 10-speed rear-wheel drive and nine-speed front-wheel drive transmissions in a variety…
Toyota’s July Global Vehicle Output Drops Again, Puts Annual Target in Doubt
Toyota Motor Corp. said on Tuesday its July global vehicle production had fallen 8.6 percent year-on-year, missing its target for the fourth straight month, as COVID outbreaks, severe weather and a recall probe on top of a persistent chip shortage hurt output. The sustained weakness in overall performance in July from the world’s largest automaker…
Honda to Cut Output by up to 40 Percent at Japan Plants on Supply Disruptions
TOKYO—Honda Motor Co. said on Thursday it would slash production plans by up to 40 percent in Japan early in September due to persistent supply chain and logistical issues. The news comes even as Japanese automakers have been cautiously optimistic that chips shortage that caused repeated production cutback is easing. Its assembly plant in Saitama…
Eurozone June Production Grows Three Times More Than Expected
BRUSSELS—Eurozone industrial production in June grew three times more than expected, data showed on Friday, mainly thanks to a jump in the output of capital goods. The European Union’s statistics office Eurostat said industrial production in the 19 countries sharing the euro rose 0.7 percent month-on-month in June for a 2.4 percent year-on-year increase. Economists polled…
Eurozone Factory Production Falls in June for First Time in 2 Years: PMI
LONDON—Eurozone manufacturing production fell last month for the first time since the initial wave of the coronavirus pandemic two years ago as higher prices and a darkening economic outlook kept consumers wary of making purchases, a survey showed. S&P Global’s final manufacturing Purchasing Managers’ Index (PMI) fell to 52.1 in June from May’s 54.6, its…
Toyota Misses May Production Target in Third Monthly Shortfall
TOKYO—Toyota Motor Corp.’s global production for the first five months of 2022 fell 9.7 percent short of its own target on average, raising questions about whether the Japanese automaker will be able to maintain its current target for the year. The world’s largest automaker by sales said it produced 634,940 vehicles in May, 5.3 percent…
Toyota Cuts July Global Production Plan by 50,000 Vehicles
TOKYO—Toyota Motor Corp. on Wednesday cut its July global production plan by 50,000 vehicles as semiconductor shortages and COVID-19 parts supply disruptions continued to curb output. The world’s largest car maker by volume expects to make 800,000 vehicles next month, it said in a statement. “As it remains difficult to look ahead due to the…
UK Car Production Continues to Fall, Figures Show
British car production has continued to fall, with almost 100,000 fewer vehicles built in the first three months of 2022 compared with a year ago, new figures show. The Society of Motor Manufacturers and Traders (SMMT) said manufacturing declined by almost a third, with the industry still affected by the global shortage of semiconductors and other…
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