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Aug 19, 2015

CHINESE BLAST * China: 10,000 cars damaged at explosion

* China - Car makers start to count cost of Chinese blast

-- Toyota will lose its biggest source of car production within China for at least three days as car makers struggle to assess the damage of last week’s explosions in the port city of Tianjin... The area’s evacuation will prevent Tianjin FAW Toyota Motor Company from operating until Wednesday... The broader toll for car makers and suppliers that count on the port to store vehicles and ship parts remains unclear, though by yesterday evening global car makers had confirmed 4,950 cars were damaged in the blast. That could climb above 10,000 once all vehicles in the area are accounted for, as car makers were struggling to assess the damage as authorities restricted access... Volkswagen said that 2,700 of its imported vehicles had been damaged and were mostly "unsellable". Hyundai said 4,000 of its cars were in the vicinity but it could not gain access to confirm damages, while Renault’s China joint venture had only been able to confirm damages to 1,500 of its 5,000 vehicles in the area. It said the explosion would affect its deliveries this month and next... Ford, Nissan, Toyota, Daimler and BMW were still assessing damages... Tianjin is China’s largest entry point for imported cars, handling about 40% of cars imported last year, according to the official Xinhua news agency... 
(Picture: REUTERS/KIM KYUNG-HOON - A drone operated by paramilitary police flies over the site of last week’s explosions in Tianjin, China, on Monday. Car makers are struggling to assess damages from the blasts as access to the area is still restricted)   --  Tokyo, Japan - Business Day (New Zealand) - Agosto 18 2015

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