Crown Prince announces medium-term debt strategy to diversify funding sources "A resilient economy capable of overcoming challenges reflects progress towards achieving Vision 2030 goals"    OPEC+ tripartite meeting keen on maintaining global oil market stability    'No excuses' for Israel to not accept ceasefire deal, EU foreign policy chief says    Riyadh Season draws 8 million visitors in 6 weeks    Alkhorayef highlights role of National Initiative for Global Supply Chains in boosting Saudi economy    Saudi Arabia signs investment deals worth SR35bn with foreign firms to strengthen global supply chains    Saudi Arabia unveils updates on Expo 2030 Riyadh master plan at 175th BIE General Assembly Riyadh Expo Development Company established to oversee strategic planning, operations, and legacy development    Saudi FM attends Quadripartite meeting on Sudan in Italy    Georgia's new parliament opens first session amid mass protests and boycott    Gangsters block aid distribution in south Gaza    Russian deserter reveals war secrets of guarding nuclear base    Best-selling novelist Barbara Taylor Bradford dies    Cristiano Ronaldo's double powers Al Nassr to 3-1 win over Al Gharafa in AFC Champions League    Saud Abdulhamid makes history as first Saudi player in Serie A    Al Ahli edges Al Ain 2-1, bolsters perfect start in AFC Champions League Elite    Al-Falih: 1,238 foreign investors obtain premium residency in Saudi Arabia    Most decorated Australian Olympian McKeon retires    Adele doesn't know when she'll perform again after tearful Vegas goodbye    'Pregnant' for 15 months: Inside the 'miracle' pregnancy scam    Do cigarettes belong in a museum?    Order vs. Morality: Lessons from New York's 1977 Blackout    India puts blockbuster Pakistani film on hold    The Vikings and the Islamic world    Filipino pilgrim's incredible evolution from an enemy of Islam to its staunch advocate    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Earthquake disrupts Toyota car production
Published in The Saudi Gazette on 23 - 04 - 2011

TOKYO: Toyota's global car production, disrupted by parts shortages from Japan's earthquake and tsunami, won't return to normal until November or December — imperiling its spot as the world's top-selling automaker.
President Akio Toyoda apologized to customers for the delays due to the March 11 disasters that damaged suppliers in northeastern Japan, affecting automakers around the world.
“To all the customers who made the decision to buy a vehicle made by us, I sincerely apologize for the enormous delay in delivery,” Toyoda said at a news conference in Tokyo.
Toyota Motor Corp. earlier said it has suffered a production loss of 260,000 cars. Earlier this week, it resumed car production at all of its plants in Japan for the first time since the quake, but the factories are running at half capacity due to the parts shortages.
Japanese manufacturers are also grappling with power shortages.
Aftershocks from the magnitude 9.0 quake have slowed progress, Toyoda said.
“We've seen some of the recovery work set back to square one many, many times,” he said.
The setbacks could cost Toyota its top position in the global auto industry.
Last year, Toyota sold 8.42 million vehicles, barely keeping its lead over a resurgent General Motors Co., which sold 8.39 million, thanks to booming sales in China. Given Toyota's production woes, GM could reclaim the title of world's largest automaker that it lost in 2008.
Adding to those worries, customers in some overseas markets are raising questions over possible radiation contamination of exported vehicles due to radiation leaks at a tsunami-damaged nuclear plant in northern Japan's Fukushima prefecture (state).
In response to that concern, Japanese automakers have begun checking radiation levels on some cars and tires before shipment.
“We want to erase their worries by taking this measure,” said Hirokazu Furukawa, a spokesman for the Japan Automobile Manufacturers Association. He noted that no radiation has been detected on cars bound for overseas markets so far.
Toyoda and other Toyota executives said normal production for some vehicles inside Japan could resume by July, with normal output beginning to be restored by August overseas.
But it will take until late in the year for the company to bring its production lines back to full capacity for all models.
“In November or December means that all lines and all models will go back to normal and we will be able to receive orders and make deliveries as usual,” Toyoda said.
The company would not provide details on which vehicles might become fully available first. The announcement Friday was meant to facilitate dealers' discussions with customers, Toyoda said.
“Even if it is only the timing we can share with others ... we may be able to deal better with people working on the front lines,” he said. “Dealers cannot discuss deliveries or any other specifics and they are having a hard time right now.” The parts crunch has been felt around the world, from Malaysia to Europe to the United States. Nissan Motor Co.
and Ford Motor Co. have said several North American plants would be closed for some of April, and Chrysler CEO Sergio Marchionne has said his company will see disruptions.
Toyota Motor Corp. has extended production cuts at its North American factories into early June, a move that will likely result in widespread model shortages. Its factories in China are also operating at 50 percent capacity.
The company has pledged not to lay off any of its 25,000 workers in North America and says it will use the extra time for training to make improvements at its 13 factories in the region.


Clic here to read the story from its source.