Friday, October 28, 2011

INAUTONEWS: Thailand Floods: The Automotive Industry Has Lost $13bn So Far

After the Japanese automakers, Ford announced that has suspended output in Thailand on parts-supply shortages, despite fears it may lose production of 30,000 vehicles.
“We are working closely with our affected suppliers to return to production as quickly as possible,” Lewis Booth, chief financial officer at the Dearborn, Michigan-based carmaker, said.
Toyota Motor Corp on Thursday said it would keep its Thai production suspended for a fourth week and reduce output in North America and South Africa.
Further, production from October 31 through November 5 will be adjusted based on an ongoing assessment of the parts supply situation at each individual production line the company said.
In addition, Toyota must now cut extra hours and weekend shifts at some plants from Indiana, West Virginia, Kentucky and Canada. These measures are meant to conserve parts as the company faced serious disruptions due to a shortage of parts imported from suppliers in Thailand.