Japanese earthquake hits auto production - and prices

Japanese automaker Toyota has delayed the domestic launch of its Prius wagon, as the effects of this month's devastating earthquake and tsunami continue to impact production.

The automaker planned to begin deliveries of the new, larger Prius in Japan in April, but it confirmed this week that the date has now been pushed back and no decision regarding a rescheduled launch has been made.

The Japanese Prius wagon is set to be sold as a five-seater model in the US dubbed Prius V and as a seven-seater in Europe called Prius+, although the automaker said "no decision has been made in regards to a possible need to change the launch timing [of international models]."

Production of the original Prius, along with the Lexus CT 200h and HS 250h will restart on Monday, according to a statement March 24.

Toyota is reportedly facing a components shortage after damage to facilities and continuing transport disruption in the country, and it's not the only one - General Motors has suspended production in one of its US plants this week due to a parts shortage.

With production still at a standstill in many Japanese auto plants, automakers are racing to establish what the knock-on effect will be for consumers around the world but the scale of the disaster means it may still be too early to tell.

Although Toyota is believed to be one of the worst hit automakers, Nissan chief Carlos Ghosn warned this week that the number of suppliers facing difficulty in Japan would affect automakers internationally and Honda has also suspended production at its plants.

With global car inventory likely to tighten in the coming months, analysts have warned that the disaster could spell higher prices for buyers, with dealers less likely to discount models that are in short supply.

Edmunds.com analyst Michelle Krebs told AFP that "we can be sure new car prices will go up as inventory thins out."

Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

ES Rentals

    iJobs Job Widget
    iJobs General

    Recruitment Genius: Account Manager

    £20000 - £35000 per annum: Recruitment Genius: This full service social media ...

    Recruitment Genius: Data Analyst - Online Marketing

    £24000 - £35000 per annum: Recruitment Genius: We are 'Changemakers in retail'...

    Austen Lloyd: Senior Residential Conveyancer

    Very Competitive: Austen Lloyd: Senior Conveyancer - South West We are see...

    Austen Lloyd: Residential / Commercial Property Solicitor

    Excellent Salary: Austen Lloyd: DORSET MARKET TOWN - SENIOR PROPERTY SOLICITOR...

    Day In a Page

    Isis in Iraq: Yazidi girls killing themselves to escape rape and imprisonment by militants

    'Jilan killed herself in the bathroom. She cut her wrists and hanged herself'

    Yazidi girls killing themselves to escape rape and imprisonment
    Ed Balls interview: 'If I think about the deficit when I'm playing the piano, it all goes wrong'

    Ed Balls interview

    'If I think about the deficit when I'm playing the piano, it all goes wrong'
    He's behind you, dude!

    US stars in UK panto

    From David Hasselhoff to Jerry Hall
    Grace Dent's Christmas Quiz: What are you – a festive curmudgeon or top of the tree?

    Grace Dent's Christmas Quiz

    What are you – a festive curmudgeon or top of the tree?
    Nasa planning to build cloud cities in airships above Venus

    Nasa planning to build cloud cities in airships above Venus

    Planet’s surface is inhospitable to humans but 30 miles above it is almost perfect
    Surrounded by high-rise flats is a little house filled with Lebanon’s history - clocks, rifles, frogmen’s uniforms and colonial helmets

    Clocks, rifles, swords, frogmen’s uniforms

    Surrounded by high-rise flats is a little house filled with Lebanon’s history
    Return to Gaza: Four months on, the wounds left by Israel's bombardment have not yet healed

    Four months after the bombardment, Gaza’s wounds are yet to heal

    Kim Sengupta is reunited with a man whose plight mirrors the suffering of the Palestinian people
    Gastric surgery: Is it really the answer to the UK's obesity epidemic?

    Is gastric surgery really the answer to the UK's obesity epidemic?

    Critics argue that it’s crazy to operate on healthy people just to stop them eating
    Homeless Veterans appeal: Christmas charity auction Part 2 - now LIVE

    Homeless Veterans appeal: Christmas charity auction

    Bid on original art, or trips of a lifetime to Africa or the 'Corrie' set, and help Homeless Veterans
    Pantomime rings the changes to welcome autistic theatre-goers

    Autism-friendly theatre

    Pantomime leads the pack in quest to welcome all
    The week Hollywood got scared and had to grow up a bit

    The week Hollywood got scared and had to grow up a bit

    Sony suffered a chorus of disapproval after it withdrew 'The Interview', but it's not too late for it to take a stand, says Joan Smith
    From Widow Twankey to Mother Goose, how do the men who play panto dames get themselves ready for the performance of a lifetime?

    Panto dames: before and after

    From Widow Twankey to Mother Goose, how do the men who play panto dames get themselves ready for the performance of a lifetime?
    Thirties murder mystery novel is surprise runaway Christmas hit

    Thirties murder mystery novel is surprise runaway Christmas hit

    Booksellers say readers are turning away from dark modern thrillers and back to the golden age of crime writing
    Anne-Marie Huby: 'Charities deserve the best,' says founder of JustGiving

    Anne-Marie Huby: 'Charities deserve the best'

    Ten million of us have used the JustGiving website to donate to good causes. Its co-founder says that being dynamic is as important as being kind
    The botanist who hunts for giant trees at Kew Gardens

    The man who hunts giants

    A Kew Gardens botanist has found 25 new large tree species - and he's sure there are more out there