Toyota Motors was one of the many Japanese auto companies, which had to shut down production after facing shortage of component supplies, because of the earthquake and tsunami which struck Japan in March. According to recent reports, the company said that the supplies for their popular Hybrid Prius will pick up by 70% of its normal level by the next month.
According to the Group VP of Toyota’s US SalesThe US unit of the Japanese auto company will reportedly receive around 36,000 Prius models for June, July and August sales or around 12,000 models a month. This figure is expected to increase if the Japanese production recovers at a greater pace. The following three months could see supplies 60 to 70% of their normal levels, though according to Bob Carter, this is a huge improvement.
With increasing supply, the auto manufacturer would be able to take greater advantage of the rising demand in the market for electric-gasoline models in the midst of increasing fuel prices. Toyota had earlier stated early in the year that could set a sales record in the US for their Prius model, before the earthquake and tsunami struck Japan, damaging power plants and part factories, interrupting the production of auto, so that dealers in the US were left with hardly any inventory, if at all.
According to reports, there were also mentions that the sales of the Prius would decline this month in the US, in comparision to sales a year before in the corresponding period, due to shortage of auto parts. Carter said that if they had twice the number of Prius models than before, they would easily be selling twice the models. The company is trying to provide cars to those who want them; however, it will take some time before this happens.
