Toyota President Touts Faster Output Recovery
SEOUL — Toyota Motor Corp. is having a faster-than-expected recovery from the shortage of auto parts caused by the earthquake and tsunami that hit Japan, and expects production will be fully back to normal in November, the company's president said Saturday.
"Currently, we have only 30 vehicle parts on a short supply and the restoration efforts in Japan are picking up speed despite aftershocks," Toyota President Akio Toyoda told reporters in Seoul.
Mr. Toyoda reiterated that the disrupted domestic production lines will reach about 90 percent of normal volume at the end of June, which is higher than the previous 70 percent projected by Japan's top auto maker last month. The auto maker first released its improved production forecast on Tuesday, reported The Wall Street Journal.
Toyota had restarted all its domestic production lines by mid-April following the March 11 natural disaster, but at only about 50 percent of normal volume.
Mr. Toyoda said he was visiting Seoul to explain the company's restoration efforts to encourage dealerships in the neighboring country.
This is his first visit to Seoul since he became president of Toyota in June 2009. He had earlier visited the U.S. and China to explain what Toyota was doing to cope with the massive recalls due to faulty parts between 2009 and 2010.
More Industry

Pennsylvania Dealership Under New Retailers
The sale of the Chrysler Dodge Jeep Ram store puts a family auto group on a leaner path as first-time dealers take the helm.
Read More →
Battery Storage Takes Priority Over EVs
U.S. automakers are prioritizing battery energy stationary storage over electric-vehicle production as the consumer demand for EVs lags the rest of the world.
Read More →
Auto Dealers Feel Better But Not Great
A second-quarter Cox Automotive poll of franchised retailers and independents found better views of the current market after a good spring but anticipation of third-quarter storminess.
Read More →
New-Vehicle Sales Picture Relative
A May forecast is complicated by last spring’s trade tariff effects on auto retail. Despite continued hard realities, many consumers took advantage of ways to bite the bullet.
Read More →
Auto Group Acquires Third Nissan Rooftop
Iowa-based Coleman Automotive Group recently acquired its seventh dealership, McGrath Nissan, which it renamed Nissan of Elgin.
Read More →
April Less Affordable
Based on prices, reduced incentives and slower household income growth, consumers found it more challenging to buy new last month, Cox Automotive reported.
Read More →
Building an Extraordinary F&I Agency
Work to determine your specialized talent, because that fact will determine everything about your agency’s future.
Read More →
Recipe for Compliance
The secret to both amazing barbecue and compliance is the same: understanding the basics and committing to a process.
Read More →
EVs Getting More Attractive
A growing percentage of U.S. consumers are open to switching and fewer are adverse to the idea, according to a recently completed survey. That’s despite the end of a tax break.
Read More →
EV Sales Drop in April Following Surge
North American electric-vehicle sales were down 28% year-over-year, a sharp contrast from global EV sales growth of 6%.
Read More →