Japanese automaker Toyota has been trying very hard to restore full production to their US plants following the March 11 earthquake and tsunami in Japan. Fortunately, there are now plans in place for a full recovery by this September. Because of the Japanese plants forced shutdown, supplies were unable to reach their US counterparts. Toyota's sales figures dropped 33.4 percent in May, which was their largest downfall since 2002.
Toyota is relying on the new Prius V hybrid and a redesigned midsize Camry sedan to further increase sales in the US market. Toyota has resumed production since June 6th on eight of the 12 models it builds in North American. Fortunately, Toyota has restored production much faster than anticipated, which is already going beyond their initial expectations. Honda has also lost a significant amount of sales when the earthquake struck Japan, but ensures that the all-new Civic will pick up the pace by this fall.
Toyota estimated the financial impact of the earthquake and its aftermath at around ¥360 billion Japanese Yen, or roughly $4.45 billion.