Wednesday, July 12, 2000
Automakers Buy Record Amount Of Parts From U.S., EU

TOKYO (Nikkei)--The value of parts procured by 11 Japanese automakers from the U.S. and EU hit a record high in fiscal 1999, the Japan Automobile Manufacturers Association reported Wednesday.

Purchase of parts manufactured in the U.S., procured locally or imported, jumped 13% to a record 31.9 billion dollars from a year earlier, while purchase of those made in the EU, procured locally or imported, rose 1% to a record 6.69 billion dollars.

The value of parts procured locally in the U.S. surged 14% to 28.12 billion dollars due to brisk sales of cars in North American markets and to an increase in output capacity by Japanese automakers operating there. The value of imported U.S. parts, however, edged up by just 1% to 3.78 billion dollars amid a stagnant domestic auto market.

The value of EU-made parts procured locally remained flat at 5.69 billion dollars, with imports rising 8% to 1 billion dollars.

Toyota Motor Corp. saw its purchase of parts manufactured in the U.S. surge 24% to 12.91 billion dollars.

(The Nihon Keizai Shimbun Thursday morning edition)




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