Friday, August 12, 2011

Well, it was almost certain to happen after the March 11 earthquake and Tsunami hit Japan causing multiple problems to the country's automotive industry. Toyota, the world’s largest carmaker, saw its production drop by 23% to 3.37 million units for the first half of the year - and includes sales of Lexus, Daihatsu and Hino vehicles.
As a result, the Japanese company lost the title of the world’s largest automaker that it held since 2008 to General Motors, which saw its sales rise by 8.9% to 4.536 million units for the first six months of 2011. For the time being, second place goes to the Volkswagen Group which sold 4.13 million units worldwide.
Toyota has announced that its factories already operate at 90% of their capacity since June and expects production to fully recover by November. Moreover, it will produce an additional 350,000 units from October until next March to make up for the lost ground.
However, analysts like Carnorama’s Takeshi Miyao, don't believe that Toyota can recuperate quickly: “Even if it recovers production it will take another few more months for sales to recover too, as it takes time to deliver the cars to the dealers. Therefore, Toyota may even trail VW in the full year as well”.

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