Auto giant, Toyota was the largest auto company to be hit by the Japanese disaster in March. According to recent reports, the President of the company has reported his hopes that they will be able to restart their full global production in November. The production output of the company is expected to reach 90% of its full capacity this month.
The president of Toyota Motor Corp., Akio Toyota, said that they are restoring their production levels at great speeds in spite of continuing aftershocks in the region. They expect that by November, they will recover their production output level to full capacity. According to reports, Toyota has returned to their pre-earthquake levels even faster than they had anticipated, with the June output reaching to 90% of what it was before the earthquake.
Last month the production output had reached to 70% of its full capacity. Back in April, Toyota had said that they expected to make a full recovery by November to December. However, in spite of the production recovery being faster than expected, reports state that the company’s total production is still less by almost a million units, according to Toyota’s production plan in early 2011.
The company has lost around 900,000 units by May end. As Toyota manufactures 38% of its models in Japan, in comparison to Nissan and Honda’s 25% production in Japan, Toyota received the largest impact in the auto industry. The sales of the Toyota Lexus took a dive, dropping to 51% in its South Korean market in April, 2010.
The sales of other Toyota vehicles dropped by 41%, however its exports increased by 14% led by the models from German manufacturers. In 2010, Toyota managed to sell a total of 10,486 Lexus, in addition to other models in their South Korean market, which is dominated by Kia Motors and Hyundai Motors.