GOLDMAN SACHS: Toyota Is Losing $73 Million A Day Due To The Japanese Catastrophe

japan tsunami

Photo: ap

Goldman Sachs expects Toyota to take a $73.3 million profit hit due to an expected reduction of 40,000 new vehicles from its fleet (via MarketWatch).What else we know, according to Goldman:

  • Nissan is losing $24.7 million a day; four plants closed until tomorrow, two until end of the week
  • Honda is losing $24.7 million a day; production is halted until March 20

The impact of the earthquake, tsunami, and rolling blackouts on many other manufacturers is still a mystery, but if history is correct, we should know soon.

From an SMBC Friend Securities analyst (emphasis ours):

It will take quite some time until investors confidence in Japanese manufacturers returns. When we look back at the Kobe earthquake, it took about a week to get an overall picture of the magnitude of the damage.

Don’t miss: The insurance giants exposed to the Japanese catastrophe >

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