Monday, April 25, 2011

Japanese Auto Production Crashes

Toyota's car production in Japan fell 62.7% in March due to a parts supply crunch following the earthquake and tsunami.

Toyota Motor Corp. said its domestic production in March was 129,491 vehicles — the lowest since 1976 when Toyota began maintaining production figures.

Toyota's global production in March dropped 29.9%t year-on-year to 542,465 vehicles, while its sales in Japan tumbled 45 percent for the month.

Honda Motor Co. said its domestic production in March plunged 62.9 percent to 34,754 vehicles, with worldwide production falling 19.2 percent to 282,254 vehicles. Nissan Motor Co. said its production in Japan dropped 52.4 percent to 47,590 vehicles.

Like, I said, if you are going to buy a car, buy it now. New car inventories are going to be low at least through the summer, couple this with the wave of price inflation that will be sweeping through the country this summer, and car prices will likely be much higher.

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