Toyota Motor Corp., Honda Motor Co. and Nissan Motor Co., Japan's three-largest carmakers, all cut global production in December as the recession and a credit crunch dampened demand for new automobiles.
Toyota's output plummeted 25 percent to 479,027 vehicles in December. Honda's production dropped 7.5 percent to 277,294 vehicles, while Nissan's plunged 36 percent to 176,174 vehicles, the companies said separately Wednesday.
Japanese carmakers are slashing output and profit forecasts as the global recession and concerns of job losses deter consumers from purchasing new cars and sport utility vehicles. Honda on Tuesday widened production cuts in North America by 29,000 vehicles and plans to cut all of its 3,100 temporary workers in Japan in April.