Japan's auto industry group is delaying its 2012 domestic sales forecast until it has carried out an assessment of the impact of floods in Thailand.

The Japan Automobile Manufacturers Association is also holding out until details of a subsidy plan have been worked out, according to Bloomberg.

Toshiyuki Shiga, chairman of the auto group, said it may change its forecast of 4.45 million units for the year ending March 31st 2012, while he added that details of the 2012 calendar year would emerge "as soon as we’re ready".

He also indicated that demand for cars, trucks and buses in Japan may fall by as much as 14 per cent this year to 4.25 million vehicles.

Japanese car makers have been hit by two natural disasters this year. The March 11th earthquake and tsunami severely curtailed production, while the likes of Toyota and Honda have seen output disrupted by flooding in Thailand.

Toyota and Nissan both increased domestic production in October. Toyota's output in Thailand was reduced by 83 per cent.

Source:

Japan Auto Group Delays 2012 Forecast on Thai Floods, Subsidy (15/12/11)

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