Toyota output loss may top 40,000 vehicles

TOKYO: Toyota Motor, the world's largest carmaker, may lose output of at least 40,000 vehicles after Japan's strongest earthquake damaged factories and crippled nuclear power plants, causing electricity shortages. Toyota closed 12 plants in the nation through March 16, Shiori Hashimoto, a spokeswoman for the Toyota City, Japan-based company, said by phone.

The manufacturer's profit will be cut by 6 billion yen ($72 million) for each day of lost operations in Japan, while Nissan Motor and Honda Motor may each lose 2 billion yen a day, Goldman Sachs Group estimated. Sony and Toshiba also shut plants following the March 11 earthquake and tsunami, which police said may have killed more than 10,000 people.

The disaster may trim 0.3% from Japan's economy as power outages cut industrial production, Nomura Holdings estimated in a report. "We don't know how long it will take for manufacturers to return to normal operations, with the current situation at the nuclear power plants," said Toshihiko Matsuno, a senior strategist at SMBC Friend Securities in Tokyo. "If they can resume output , they can sell as the US economy is signaling a recovery."

NISSAN, HONDA

Nissan Motor, Japan's second-largest carmaker, suspended operations at four plants until March 16 and at two other plants until March 18, the Yokohama-based company said on Monday in a statement. The automaker earlier said 2,300 new vehicles were damaged by tsunami surges. Honda, the nation's thirdlargest carmaker, will halt output through March 20, reducing output by an estimated 16,600 cars and trucks and 2,000 two-wheelers , said Tomoko Takamori , a spokeswoman for the company.