Disruption in the auto industry because of the earthquake and tsunami in Japan last month have been minimal so far, but the continued aftershocks and impending nuclear meltdown causing roaming power shortages is starting to take it’s toll. Shortages of vehicles built in Japan are starting to be noticed around the world, and the lack of parts is making it difficult for other auto manufacturers to run their assembly lines. Auto analysts predict that Japans auto industry may not hit it’s full manufacturing potential until late this summer. This uncertainly has suppliers, automakers and dealers scrambling.

Car buyers are already having difficulty finding models they want in certain colors, and auto plant workers are expecting they will soon be told to stay home. The complexity of the auto supply chain shows just how vulnerable the industry can be. With over 3,000 parts going into a single car or truck, one missing part means the vehicle cannot be built. Customers not only notice auto shortages, but rising prices, especially on fuel efficient hybrids as gas prices rise.

IHS Automotive predicts that one-third of daily global automotive production will be cut because of supply chain disruptions. That means about 5 million vehicles worldwide won’t be built, out of the 72 million vehicles planned for production in 2011. In the U.S., some car manufacturers are considering shifting part manufacturing operations to local companies, but stringent safety requirements and exacting high tech specifications will limit a company’s flexibility. For now car executives are allocating certain parts to build the more popular and profitable vehicles.