Japanese automobiles import to halt after tsunami
One of the biggest and most devastating earthquake resulting in tsunami has put a hold on all the activities from Japanese economy. The country is standing on a standstill position and nowhere can think of a way to trade in this situation. For this reason the imports of spare parts of high end cars and bikes along with its critical spare parts will be on hold. Japanese automobile companies which are having branch in India as well will stop the import of spare parts from the home land.
The operations in the country are badly affected with this tsunami and thus the import will not be continued from here. As per the statement made by Shashank Srivastava , chief general manager (marketing), Maruti Suzuki, the company is trying to figure out the impact of this natural devastation on the vendors of Japan which usually supply spare parts to the company branch in Indian auto market. In India, the company is holding a stake of 55% and is the largest automobile company in India.
The company is involved in importing the engines and gears from home land for its Indian portfolio cars like Maruti Swift, Maruti Dzire etc. the calamity will hamper the smooth flow of component supply from home country. This will in turn slow down the operation of Maruti Suzuki in Indian auto market. Honda Siel Cars India also imports its parts from Japan for its luxury car, Honda Accord which will be hugely affected with this natural calamity in Japan. Many Japan based companies are holding a branch in India which will face a severe problem in maintaining the same success story in market. Honda Accord is a successful model and is known for catching good demand in Indian auto market. With this shortage of supply the car may go through a longer waiting period.
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