Toyota Motor Co may slip to No. 3 in the automaker production rankings behind General Motors and Volkswagen due to Japan’s earthquake and nuclear crisis, which slashed local output by almost two-thirds in March alone.
A shortage of parts in the wake of the March 11 earthquake and tsunami has savaged Japan’s auto sector supply chain, while damage to a major nuclear plant has disrupted power supplies.
Investors expecting overseas rivals to benefit from a prolonged slump in Japanese output pushed up shares in South Korea’s Hyundai Motors and associate Kia Motors to record highs on Monday.
Read the rest of the story: Auto production faces bigger hit after Japan quake.