Tsunami Hits Japan Auto Makers Hard In May
While GM saw a 1% sales decrease and Ford a .1% sales decrease for the month of may, that’s nothing compared to what some of the Japanese auto groups are experiencing. Toyota experienced a 33% decrease in sales, Honda a 22% decrease, Mazda a 21% decrease and Nissan a 9.1% decrease. This stems from the production disruptions caused by the earthquake and tsunami back in March. Toyota was apparently the hardest hit, and is expected to reach 90% of pre-earthquake production levels by the end of June. A surge in Japan domestic automotive sales is expected due to consumer and fleet replacement of vehicles lost in the tsunami. Chrysler was the only one of the Big Three to see an increase in sales over last year with a 10% increase.