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Japanese automakers’ local, foreign output grows, exports on upswing

Suzuki Motor Corp. announced Tuesday its output of cars in Japan rose for the sixth successive month in June totaling 97,921 units, a rise on year of 36.5 percent.

In the recording month Suzuki in addition produced 134,137 cars abroad, marking the 12th straight month of expansion and a rise of 20.9 percent from the same period a year earlier, the automaker said.

The automaker also announced their exports increased in June for the seventh straight month totaling 25,561 units, a leap of 70. 4 percent and sales grew for a third month, rising 5.9 percent.

Suzuki Motor’s domestic output expanded 25.2 percent on year to 553,959 units in the first half of this year, said the firm.

Honda Motor Co. said its production expanded 19.9 percent year on year to 87,573 units in June, marking the sixth straight month of increase.

The firm’s exports rose 23.7 percent, totaling 31,523 units, climbing for the fourth straight month and local sales rose 18.5 percent and were logged at 60,295 cars, marking the 12th straight month of growth, the automaker said.

Meanwhile Honda’s overseas production grew 16.8 percent to 215, 976 units, which is the eight straight month of increase.

For the January-June half, Honda’s domestic output soared 30.5 percent from the same period the previous year to 491,024 units.

India to become potential buyer of L.American, Caribbean products

A research by the Inter-American Development Bank said on Tuesday that India could become a potential buyer of agricultural and mineral products of Latin America and the Caribbean, given New Delhi’s rising buying power.

With a 1.1-billion population and facing a huge lack of raw materials, India is poised to become a big buyer of agricultural and mineral products, main export resources of Latin America, the research titled “India: Opportunities and challenges for Latin America” said.

Thus India could become a great consumer of Latin American and Caribbean raw materials, it said.

The region’s trade with India represents only 0.8 percent of its foreign trade, it pointed out.

The research suggested both sides reduce their commercial taxes and trade barriers to enhance trade. Currently, the average tax India levied on Latin American agricultural products remain as high as 65 percent.

Another difficulty to enhance trade is a lack of direct shipping route between the two sides, it said.