Toyota Output to Be Up to Speed in November

On Saturday, the president of Toyota Motor (NYSE: TM) said the automaker is experiencing a faster-than-expected recovery from the shortage of auto parts caused by the earthquake and tsunami that hit Japan in March. Full production globally is expected to resume in November.

Japanese output is expected to recover this month to 90% of levels seen before the 9.0 earthquake that damaged factories in Japan's northeast, the company said last week.

Toyota builds 38% of its cars in Japan, whereas local rivals Honda (NYSE: HMC) and Nissan (NSANY) build only 25% of theirs locally. So the impact on production at Japan's biggest auto company has been greater. In 2011, overall production may be as much as a million vehicles fewer than Toyota had planned to build at the beginning of the year. Lost output by the end of May totaled 900,000 cars.

In order to spur sales, Toyota is unveiling new sales incentives, despite shortages of some key models. Toyota typically offers only region-specific deals. But 0% financing for 60 months is available nationwide on the Camry, and will soon be for the Tundra as well. Special lease and financing rates will also be available on other models.