Since a devastating earthquake struck Japan last March, Toyota and Honda dealers have been screaming for more cars and trucks.
Now they are finally getting their wish. Toyota Motor Corp. and Honda Motor Co. will lead a second-quarter production surge in North America.
The increase will let Japan's two top automakers gain ground on the Detroit 3, whose production in the second quarter will be largely flat.
Toyota and Honda are expected to more than double North American output from depressed 2011 levels, according to IHS Automotive. The surge will return second-quarter production to slightly above 2010 levels for the two companies.
Meanwhile, Chrysler Group expects to boost output 7 percent in the quarter, and General Motors and Ford Motor Co. plan modest decreases that reflect changeovers to some new models.
Bob Carter, Toyota Division general manager, said Toyota will launch a barrage of marketing support when most of the inventory arrives. Big campaigns for the Camry, Tundra, Prius and Corolla will follow Toyota's traditional spring sales event in March.
"What you shouldn't expect is a great departure in either our incentive strategy or fleet strategy," Carter said. "There won't be trucks with $7,000 in the bed. Our product has too much value for us to market it that way."
John Mendel, American Honda executive vice president, said Honda expects inventories to grow about 10 percent each month starting in February. Honda said it gained 40,000 units of inventory in January, but is still off 30 percent from this time last year.
"It feels good to have inventory on the ground for a change. It's a nice return to normalcy, where dealers can't see as much blacktop as they were," Mendel said. "There's still a lot of pent-up demand."
