Japan June auto exports rise on demand in U.S.

July 29, 2002 TOKYO -- Bloomberg News said that Japan's automakers reported a sixth straight monthly rise in exports in June, led by Isuzu Motors Ltd. and Mitsubishi Motors Corp., on stronger U.S. demand and an increase in truck shipments.

Exports by Japan's 11 automakers rose 14 percent to 393,488 units last month, the Japan Automobile Manufacturers Association said. Shipments to the U.S. alone rose 15 percent to 139,023 vehicles, while truck exports rose 44 percent to 62,758, on increased demand in Asia and the Middle East, JAMA said.

Demand for Japanese automakers' cars is increasing in the U.S., as they release new models and beat local rivals in quality surveys. Luckey Consulting Group Inc. estimates Honda Motor Co.'s sales will rise 4 percent this month and Nissan's by 1.7 percent. Still, investors say the second half may be tougher as last month's drop in the U.S. stock market may cause demand to fall.

"Until recently, the U.S. market (for autos) was stronger than anticipated," said Makoto Kikuchi, who helps manage 500 billion yen ($4.2 billion) at PCA Asset Management Co. including auto stocks. "If you look at U.S. stock movements, there's a lot of concern as to what's going to happen from now."

Isuzu, 49 percent owned by General Motors Corp., shipped 19,962 vehicles last month, an increase of 51 percent, while Mitsubishi Motors said on Tuesday it exported 36,759 vehicles, a 42 percent rise.

Japan's top five automakers -- Toyota Motor Corp., Honda Motor Co., Nissan Motor Co., Mitsubishi Motors Corp. and Mazda Motor Corp. -- reported export figures on Tuesday.