Japanese car makers' April sales halved

Global car sales for Japanese car makers halved in April as the coronavirus pandemic forced governments to impose lockdowns that left streets empty and showrooms deserted.

Japan's top eight car makers together posted a decline of 50.1% in April sales, according to a Reuters calculation.

Toyota Motor's worldwide sales including units Daihatsu and Hino fell 45% to 472,703 vehicles - the fourth straight month of declines. Toyota's performance was dragged down by a 51% slump in sales outside Japan.

Japan's largest car maker this month said it expected profit this year to drop by 80% to its lowest in nine years, underscoring the challenge that even the most profitable car makers are having to contend with during the pandemic.

Car sales have slumped all around the world, including the two biggest markets, China and the US.

While China reported an upturn in April car sales from a year earlier by virtue of pent up demand after weeks of lockdown, annual sales could still fall by 15-25%.

Car retail sales in the US are likely to have halved in April, according to analytics firm J.D. Power. However, sales in May are expected to improve as most car makers offer attractive incentives to boost demand as lockdowns ease.

Honda Motor's global April sales fell 43% and Nissan Motor sold nearly 42% fewer cars than the same month last year.

Nissan on Thursday posted its first annual loss in 11 years and unveiled a plan to become a smaller, more cost-efficient car maker.