sales expected to drop in may 2011, global toyota - The lack of Japanese cars after 1.1 earthquake in March is one of the reasons for the crisis. Toyota Motor Corporation., Honda Motor Co. and Nissan Motor Co. have reduced their production after the earthquake. Then they had a few vehicles in their inventory that was sold in March and April that product shortages were most acute in May. Honda announced last week that they expect to return to near normal production in North America in August. Toyota plans a return to 70 percent of normal car production in North America this month.
But in the meantime, the companies are suffering losses. Because car prices website TrueCar.com predicted that Toyota's sales will drop 33 percent from last May, while Honda is down 21 percent. Taking charge of the manufacturers are Korean Hyundai Motor Company. and Kia Motors Corp., which would see their sales increase by 43 percent.
Another problem was the lack of rebates, low interest financing and other offers. Faced with dwindling supplies, the Japanese manufacturers reduce incentive spending in May, and its competitors have done the same. TrueCare said incentive spending last month reached its lowest level in nine years, an average of $ 2,017 per car. Which fell 29 percent in May and 13 percent from April.
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