This, after Toyota Motor Corp., Honda Motor Co. Ltd., and Nissan Motor Co. Ltd. suspended production in Japan in the aftermath of the earthquake and subsequent tsunamis, according to Fitch Ratings.
Toyota Motor Philippines Corp., which imports five models from Japan to sell here, said it has begun studying the supply situation while local units of Honda and Nissan said they were generally insulated from the disasters.
“We are still getting information from the head office in Japan at this time. We’re still investigating,” Rommel R. Gutierrez, vice-president for management services and corporate planning of Toyota Motor Philippines, said in a phone interview yesterday.
Units that are being imported from Japan include Rav 4, Hiace, Previa, Alphard and Lexus, Mr. Gutierrez said, while locally manufactured vehicles are Vios and Innova.
Toyota Motor had suspended production in all its factories in Japan until yesterday and estimated to have foregone the assembly of 40,000 units, according to Fitch Ratings.
The rating firm, which deferred immediate changes to credit scores of the automotive firms, said in a statement that the disaster “will likely have negative short-term impact on the production and shipment activities of the Japanese automakers” as well as steelmakers.
Honda Cars Philippines, Inc., in contrast, was confident it will not be affected by the disasters abroad.
“As of now, we have no problem,” Honda Cars Philippines President Hiroshi Shimizu said at the sidelines of a car launch late Tuesday.
Mr. Shimizu said models namely Accord, CRV and Jazz are being imported from Thailand while Civic and City are made locally.
He even said that Honda Cars Philippines expects sales to grow 5% this year from 2010, matching the industry growth forecast of 4%-5%.
Honda Cars Philippines’ total sales in 2010 were estimated at 16,600 units.
Nissan Motor Philippines, Inc. (NMPI) for its part said in a statement that “manufacturing facilities remain operational and will continue normal production schedules.”
“In general, NMPI’s supply is not affected by the recent events. We are operating with a sufficient supply of vehicle and after-service parts stock on the ground,” it added.
Only Teana is being imported from Japan while Sentra 1.3L and 1.6L, Sentra200, Grand Livina, X-TRAIL 2.0L and X-TRAIL CVT are assembled here, the car maker said.
Honda’s and Nissan’s operations here thus contrast with headquarters abroad where factories where shuttered and even damaged.
Six of Nissan’s facilities in Japan have reported some damage to their buildings or equipment, including the Iwaki Plant (Iwaki City, Fukushima Prefecture), Tochigi Plant (Kawachi County, Tochigi Prefecture), Yokohama Plant (Yokohama City, Kanagawa Prefecture), Oppama Plant (Yokohama City, Kanagawa Prefecture), Zama Operations Center (Zama City, Kanagawa Prefecture) and Honmoku Wharf (Yokohama City, Kanagawa Prefecture), NMPI said.
The Tochigi and Iwaki plants will suspend operation until tomorrow, while Oppama, Kyushu, Shatai and Yokohama plants had suspended operations until yesterday.
Honda, meanwhile, is suspending production at all factories in Japan until March 20. The output loss is estimated at 4,000 vehicles a day, according to Fitch Ratings. Its production in Japan had reportedly accounted for more than a quarter of total global production.
“Although only a few automakers such as Toyota Motor and Nissan Motor had manufacturing presence in the areas directly affected by the earthquake and the subsequent tsunamis, almost all automakers and some steelmakers suspended operations after the quake to assess the potential impact on their operations,” Fitch Ratings said.
“While immediate damages to the plants and equipment might be limited, production and shipments could be affected by potential disruption in the supply chain, logistics and electricity supply,” it said.
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