22 March 2011 09:46 [Source: ICIS news]
(updates share prices, death toll and latest announcements by Honda and Toyota)
By Nurluqman Suratman
Shares of Toyota Motor ended 4.04% higher on the Tokyo Stock Exchange, while Honda Motor rose 2.11%. Nissan Motor, meanwhile, bucked the trend and slipped 0.13% at the close of trading.
Mazda Motor was up 4.94%, while Fuji Heavy Industries, the maker of Subaru cars, was 3.19% higher.
These automakers are expected to resume some operations this week after shutting their plants from 14 March because of safety issues in the wake of the 9.0-magnitude earthquake and the tsunami that followed.
On Monday, Nissan restarted the production of parts for overseas manufacturing and repairs at its Oppama, Tochigi,
Vehicle production is expected to start on 24 March and will continue while supplies last, the company said in a statement.
“As for the
The company previously said it would keep the plants shut until 22 March.
It had also said it would resume making parts for service centres this week to repair vehicles already on the road.
The production suspension includes Honda’s automobile plants in Sayama and Suzuka as well as a motorcycles factory in
Among other car markers, Mazda is expected to resume temporary production at two plants in the southwest from 22 March, while Fuji Heavy Industries said it will suspend production at all Subaru car plants in
Fuji Heavy Industries plans to restart making parts for overseas production on 23 March and producing spare parts a day later, the company said in a statement on Monday.
Despite the restarts, issues with the Japanese automobile industry are quite serious, and the situation is unlikely to return to normalcy soon, economic research and forecasting firm, IHS Global Insight, said in a note on 21 March.
Many automakers in
“The initial estimates are that this could be a protracted shutdown of the Japanese industry as well, as it is not just simply a matter of repairing plants, but of repairing infrastructure, regional power-generation ability, and even replacing workers from communities that have lost thousands upon thousands of people to the disaster and resulting in displacement,” it added.
The number of people reported killed or missing following the natural disasters on March 11 topped 21,000 on Tuesday, according to data from the National Police Agency of Japan.
As of 15:00 hours
Disruptions at Japanese suppliers have already shuttered a General Motors plant at
In January 2011,
The automotive industry is an important pillar of demand for petrochemicals. An automobile is estimated to use up an average $2,700 (€1,890) worth of chemicals, according to the American Chemistry Council.
($1 = €0.70)
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