Toyota Motor Corp., on Wednesday announced that its North American factories will continue to operate on a normal production schedule between Nov. 28 and Dec. 5, including overtime.
With healthy inventory levels at dealerships leading into the annual Toyotathon year-end sales event, Toyota is well positioned to achieve its fourth quarter sales objectives, the affected automaker said in a statement.
Decisions regarding future production schedules will be made based on an ongoing assessment of the parts supply situation.
Jim Lentz, president of the carmaker’s U.S. sales unit, said in a Nov. 17 interview that the flood’s effect was not as severe as the automaker expected.
“Compared with cars made in Japan and other countries in Asia, Toyota’s vehicles made in North America must have been less dependent on parts from Thailand, allowing it to normalize quicker,” said Satoru Takada, an analyst at TIW Inc. in Tokyo.
The announcement comes shortly after the company partially resumed operations at factories in Samrong, Gateway and Ban Pho as prospects for obtaining parts improved, the officials said.
Insured losses from Thai floods could be in the double-digit billions of dollars and the disaster will lead to a re-assessment of weather risks to industries in Asia, a senior official from global insurer Allianz said