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Toyota's US production returns to normal after quake
by Staff Writers
Chicago (AFP) Sept 13, 2011

Toyota said Tuesday it had fully restored its US production following parts shortages caused by the devastating earthquake and tsunami that struck Japan six months ago.

Toyota has initially forecast that it would not be able to return to normal production levels until November or December. Its sales have been hit hard by long waiting lists for popular models.

With Japanese production also now restored to normal levels, Toyota said it is focused on replenishing dealer stocks.

It plans to add overtime and Saturday shifts at some US plants in order to boost production 15 percent higher than forecast prior to the quake.

"The recovery is a testament to the dedication and commitment of our North American team members, suppliers and business partners," said Steve St. Angelo, vice president of Toyota Motor Engineering & Manufacturing.

"All of us at Toyota greatly appreciate the patience and support of our customers and dealers, many of whom have made generous donations in support of the relief efforts in Japan."

Plans for Toyota's 14th North American plant "remain on track," with production of the popular Corolla sedan scheduled to begin at the Mississippi facility in October, the automaker said in a statement.

Toyota is recovering from the March 11 earthquake and tsunami, which shattered component supply chains and forced it to temporarily shut plants and cut production.

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Fitch downgrades Toyota one notch to "A"
Tokyo (AFP) Sept 12, 2011
Ratings agency Fitch on Monday said it had downgraded the long-term debt of Japan's biggest automaker Toyota by one notch to "A", citing its exposure to a strong yen in another blow to the firm. Toyota is "the most exposed among the big three Japanese automakers to FX movements and its profitability improvement was slowest among its Japanese competitors post the recent economic crisis even a ... read more


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