By: Dani Ben-Ari

Although there seems to be little to celebrate when it comes to the economy here, Bloomberg News reports that, “rebounding auto production and sales are bright spots this year amid tepid job growth and wavering consumer sentiment.”

In fact, Honda Motor Co. and Toyota Motor Corp.’s North American plants, are now leading an industry-wide assembly surge that is boosting the sagging US economy with Honda, showing a 75% surge in output. Toyota’s production has risen 66% , followed by Nissan Motor Co. All are now aiming to keep raising North American assembly and parts purchases to soften losses from the yen’s sustained strength.

“The Japanese currency traded yesterday at 78.8 yen to the dollar, compared with 86.6 yen to the dollar two years ago and 121.9 yen five years ago. The stronger yen makes it harder for companies to make vehicles in Japan and sell them profitably in the U.S., which encourages more North American manufacturing,” states Gus Faucher, a senior economist in Pittsburgh for PNC Financial Services Group Inc. “There is a lot of pent-up demand for autos, and it’s likely to stay strong for the next few years.”

Industry experts also point out that more than 87% of the Honda and Acura models sold in the United States during the past twelve months were made in North America. In addition, Honda a record 894,196 cars and light trucks were built by Honda in North America in the first half of 2012, up from 510,658 a year ago, while Toyota produced 944,570 vehicles (a 374,429-unit increase from 2011’s first half).

“Barring any unforeseen developments, it’s conceivable” that Toyota will make a record number of vehicles in North America this year, added Mike Goss, a spokesman for the automaker’s Erlanger, Ky.-based manufacturing and engineering unit for the continent.

Other manufacturers also showing growth in production include GM, which built 6% more vehicles during the first half of this year, and Chrysler Group LLC, which raised production by 23%. Ford Motor Co.’s output also increased by 3%.

In addition, Automotive News reported that “Nissan, is adding 1,000 workers to make Sentra small cars at its Canton, MS, plant, and is building a third auto-assembly factory in Mexico, raised production 21%, while affiliates Hyundai Motor Co. and Kia Motors Corp. have expanded assembly at plants in Alabama and Georgia a combined 18%.”

Car buyers might be interested to note that so far this year, the top selling cars throughout the country include” the 2012 Ford Fusion; 2012 Ford Focus; 2012 Toyota Camry; 2012 Subaru Impreza; 2012 Lincoln MKZ; 2012 Ford Mustang; 2013 Dodge Dart; 2013 Infiniti G Coupe; 2013 Ford Mustang; and the 2013 Scion FR-S.