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Further Production Cuts at Toyota and Honda

No clear end in sight in wake of Thai flooding.

by on Nov.07, 2011

The Thai flooding could impact the launch of new Toyota vehicles like the next-gen Lexus GS.

Both Toyota and Honda acknowledge they will have to make further cuts in production in the wake of the disastrous flooding that has savaged Thailand.  The two makers source a number of key components – especially microprocessors and other electronic goods – from the Southeast Asian nation, which has been hammered by some of the worst flooding in decades.

Toyota announced today it will reduce production at its Japanese plants by 30% this month due to parts shortages, with additional cuts being made in the U.S. and other plants around the world.

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The cuts come at a particularly bad time for both Toyota and Honda.  The two makers collectively lost more than a million units of production due to the earthquake and tsunami that struck Japan on March 11 leading to an earlier shortage of critical parts and components.