15 Mar 2011

Japan's major car makers halt production

6:01 am on 15 March 2011

Major car manufacturers are among Japanese companies to halt production in the wake of Friday's huge tsunami and earthquake.

Toyota, the world's top carmaker, Nissan and Honda are suspending production at all their plants in Japan, starting Monday, the BBC reports.

It is not certain when production will resume.

Toyota has 12 factories in the country, while Nissan has three. Honda says the decision would halt its production of 4,000 vehicles a day.

The Bank of Japan is meeting on Monday to discuss how to ensure market stability.

One of its priorities will be to ensure commercial banks in earthquake-struck regions do not run out of cash in case depositors rush to withdraw money, the BBC reports.