Toyota Motor Corp. told retailers that it has 45 days of inventory on hand as part of efforts to relieve worries about vehicle availability after production was disrupted as a result of the disaster in Japan last March.
This announcement proves that Toyota’s new car and light truck supplies have stayed stable in the first few weeks of May 22, 2011 even with concerns that there are still shortages after the earthquake.
U.S. sales chief Bob Carter distributed a memo, saying that Toyota has over 300,000 vehicles available for dealers for the month of May.
He claimed that Toyota has enough on stock to last more than 6 weeks at existing sales rates. Toyota said that production in North America of eight models is expected to return to normal by next month – much earlier than the expected timeframe of November or December.
Carter said that Toyota will proceed with a full production schedule as it has vehicles in the pipeline and the distribution to dealerships is continuing. He said that what Toyota wants to let everyone know is that it is “open for business.”
The Automotive News Data Center said that as of May 1, Toyota’s inventory consisted of 261,200 Toyota, Scion and Lexus models in the U.S. This means that it has a 44-day supply.
On April 1, Toyota had a stock of 329,500 units, a 50-day supply. In this memo, Carter asserted that by June, the North American production of the Toyota Avalon, Camry, Corolla, Highlander, Matrix, Sequoia, Sienna and Venza will return to 100% levels. On May 11, a similar statement was released by Toyota's North American manufacturing arm.