Thai Floods Drown Hopes For Fast Recovery Of Japanese Car Industry
The persistent floods in Thailand did cost Japanese automakers already close to 200,000 unbuilt vehicles, and no end of the floods is in sight. This is putting a severe crimp into the major push that was planned for the last quarter of 2011 and the fist quarter of 2012 to make up for lost production after the March 11 tsunami.
Here is a current tally by The Nikkei [sub].
Toyota: 100,000 units
Honda: 20,000 units.
Nissan: 20,000 units.
Mitsubishi: 15,000 units
Isuzu: 30,000 units.
Except for Honda, where the plant in Thailand is under 6 feet of water, most automakers had to stop production due to a shortage of parts. Parts will now be brought in from other countries, and some production is planned to resume shortly.
The flood may affect you even if you are not in the market for cars: Hard disks, digital cameras, and other gadgetry are already in short supply, causing panic at electronics retailers getting ready for the year-end shopping season.