Fact #723: April 16, 2012
Japan's Earthquake and Tsunami Resulted in Major Losses for Japanese Automakers
The 9.0 magnitude earthquake and subsequent tsunami that struck northern Japan on March 11, 2011 resulted in severe disruptions and losses for Japan's seven major automakers. Automotive News contacted individual companies to collect data on the losses resulting from the event. For the one year period following the disaster, Toyota reported the greatest loss in financial terms and in lost output totaling nearly 1 million units. Through March 31, 2012, the earthquake and tsunami cost the seven largest automakers in Japan an estimated 5.6 billion dollars. More losses will follow as actions such as plant relocations and manufacturing changes continue to take place to limit disruptions from future disasters.
|Company||Lost Output||Quake Costs
Note: Results translated at an exchange rate of $1=¥82.87, the rate on March 11, 2011, the day of the disaster.
Source: Crain Communications, Automotive News, March 12, 2012, p. 50. [As reported to Automotive News by individual companies.]