Toyota extends output halt due to Thai floods
Toyota last Friday made a statement that it would keep its three Thai factories suspended and output reduced in Japan next week, while also cutting production in North America, South Africa and some Asian markets due to the shortage of parts from flooded Thai suppliers.
The move was widely expected after rivals Nissan and Honda said the impact from the floods would last at least a few more weeks. Thailand’s worst floods in 50 years have affected hundreds of manufacturers and cut off the supply of about 100 components for Toyota, Thailand’s top automaker with a production capacity of 650,000 vehicles a year at its three factories there. Toyota said plans beyond Nov. 14 will be determined as the situation develops.
So far, a suspension of Toyota’s three factories in Thailand will result in lost output of 69,000 vehicles between Oct. 10 to Nov. 5, and of 22,000 vehicles from a reduction in work in Japan between Oct. 24 and Nov. 5, a spokeswoman said. Japanese automakers dominate the southeast Asian car market and the stoppages are set to eat into their profits just as they were beginning to ramp up output after supply disruptions from the March 11 earthquake and tsunami in northeast Japan. Many carmakers had also recently announced a slew of new investments in the region to meet booming demand.
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