Toyota Motor Engineering & Manufacturing North America (TEMA) said it will increase production this June to about 70% of normal levels, up from 30% in May as a result of parts shortages caused by the Japan earthquake.
Models returning to 100% production in June are Avalon, Camry, Corolla, Highlander, Matrix, Sequoia, Sienna and Venza.
Toyota Motor Corporation estimates the negative impact from the Japan Earthquake in early March at about 100 billion yen or $1.2 billion for Q1, with the production loss of 170,000 units. In total, the earthquake resulted in the loss of the production of 900,000 vehicles thus far.
In a stock exchange filing Toyota said full-year consolidated and unconsolidated financial results for FY2011 decreased from the previously announced forecasts mainly due to the suspension of vehicle production and the decrease in vehicle sales caused by the Japan Earthquake. The largest Japanese automaker said that there are still 30 critical parts that are not available. (See Toyota Posts Fiscal Year Profit of $5 Billion, but Q4 Dives)
In a statement Toyota said it will continue to evaluate production model-by-model on a monthly basis, with a goal to return to fully normalized production by late this year.
“We continue to develop solutions in order to restore 100 percent production as soon as possible for all of our North American-made vehicles,” said Steve St. Angelo, executive vice president of TEMA.
