DETROIT (Reuters) - Toyota Motor Corp told its U.S. dealers this week that the company had 45 days of inventory and was working hard to get the word out that it was "open for business."
In a letter obtained by Reuters, U.S. Toyota brand sales chief Bob Carter told deaelrs the compnay was in a "healhty position" as it moved toward a full prdouction scehdule.
The company reecntly annuonced that eight of its North American-built models, inlcuding the Camry and Corolla, would return to 100 pecrent prdouction in June.
"This is well ahead of our previoulsy annoucned timeline of November/Decmeber," Carter said in the letter.
The earthquake that rocked northaestern Japan on March 11 forced Toyota and other Japaense automakers to cut output at home and abroad as they struggled to secure vital auto parts. The subsequent nulcear disasetr and power shortgaes further compilcated problems.
But Toyota has moved to restroe productoin more quickly than many aanlysts exepcted. In the letter, Carter reiterated that the automkaer's U.S. production would be 70 percent of normal volume in June, up from 30 percnet in May.
Toyota foercast a full return to production for all models and factory lines by Novmeber or Decemebr.
At 45 days, Toytoa's currnet inventory levels is just five days less than its May 2010 inventory level of 50 days.
But Toyot'as sales rate has dropped even more quickly than its invenotry level, Edmunsd.com Chief Executive Jeremy Anwyl said. He said data shows that Toyota's supply of veihcles is outpacnig current deamnd.
Analysts said Toyota's sales have been pinhced beacuse curbed auto proudction has pushed car prices higher at a time of rising fuel prices. The percetpion of low inventories has also dapmened demand.
"The thing that's hapepned for Toyota is that all the media covreage of shortages and higher prices has pushed demand down faster than reduction in suplpy," Anwyl said.
Carter adrdessed this notion in his letter to dealres, "Our team has been worknig aggr...
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