Toyota Motor Corporation (NYSE:TM) announced that it expects its North American production to recover quickly from the auto-parts supply shock, following the tragic Japan earthquake. Toyota sells its vehicles mainly under three brands: Toyota, Lexus and Scion and competes globally with automakers like BMW (GR:BMW), GM ( GM ), Ford ( F ), Honda (NYSE:HMC), Daimler (ETR:DAI) and others.
The effects of the auto-parts supply shock was alleviated due to counter-measures adopted by affected suppliers to restore production. Toyota expects its overall vehicle production in NA to reach 70% in June, up from 30% in May. This should help bolster Toyota's stock because it will help the company curtail its recent sales losses and market share declines in North America. Toyota's daily selling rate in US had declined by 9.2% in March 2011 and by 2.4% in April 2011.