Toyota (TM), Honda (HMC) Hit by Shortages from Japan

North American operations of Toyota (NYSE:TM) and Honda (NYSE:HMC) are being hit by shortage as a consequence of the earthquake in Japan

Toyota has asked its dealers in the region to stop ordering over 200 replacement parts from Japan, while Honda Motor announced it will temporarily lower production at its North American factories starting today.

Vehicles under restriction for Toyota are Toyota, Scion and Lexus models, which parts won't be delivered unless its for the purpose of repair and not production.

Parts that have to be watched closely include shock absorbers, body panels and brake rotors. Most of those are in connection to the hybrid versions of Prius and Highlander SUV.

Honda is experiencing shortages of some of its transmission, engine, and electrical parts that are exported from Japan. Consequently, it will lower the number of hours that some North American assembly lines operate daily.

It isn't certain at this time what specific models are under pressure and where the production cuts will come for Honda.

Honda closed Tuesday at $37.38, gaining $0.30, or 0.81 percent. Toyota Motors closed at $79.71, falling $0.84, or 1.04 percent.