Toyota Motor Corp. is set to resume full production throughout the world this November while its output in Japan is on track to recover to 90% of pre-earthquake levels this month, according to Toyota president Akio Toyota (the grandson of its founder).
During a visit to South Korea, Toyoda told reporters that even with the aftershocks, the company is working to restore production quickly.
The March 11 earthquake and tsunami disaster in Japan had resulted to a parts shortage that affected Toyota and the rest of its rivals.
A Toyota spokesman confirmed that the company is recovering quicker than anticipated. Last month, Toyota had predicted that production this month will be at 70% of normal. Last April, Toyoda said that the company is expected to totally recover in November or December.
But even with this optimistic outlook, Toyota’s overall output in 2011 may still be nearly one million vehicles fewer than what the company had targeted at the start of the year.
By the end of May, Toyota estimated that its production loss was at about 900,000 cars so far. The impact of the quake in Japan was biggest for Toyota since it makes 38% of its cars in Japan. On the other hand, Nissan Motor Co. and Honda Motor Co. each build only 25% of their total output in Japan.