Output at Toyota, the world’s largest car maker, could be cut by at least 40,000 vehicles after last week’s earthquake damaged its Japanese factories and caused electricity shortages, according to a Bloomberg report carried in the Sydney Morning Herald.
Toyota closed 12 plants, a spokeswoman said. Its profit will be cut by ¥6 billion ($AUD73 million or NZD99.6 million) for each day of lost operations. Nissan and Honda could each lose ¥2 billion a day after closing plants, Goldman Sachs estimates. Sony and Toshiba have also shut plants.
A report from analysts Nomura Holdings estimated that lost output from the earthquake could trim 0.3% from Japan’s economy.
Nissan said 2300 new vehicles were damaged by the tsunami surge. The company will cut output by about 18,000 vehicles, a company spokeswoman said.
–Source: Sydney Morning Herald
