Toyota to cut production in Japan
TOYOTA IS halting production at most of its domestic plants over an additional 11 days in February and March, highlighting the impact of the relentless decline in global demand for cars.
Japan’s largest carmaker, which has been a benchmark for quality and efficiency, said yesterday it was cutting 18 shifts over 11 days, or the equivalent of nine days’ worth of production at all 12 of its domestic facilities.
The cuts would affect most of Toyota’s models made in Japan, excluding those outsourced to subcontractors, the company said.
Toyota’s decision to cut production further underscores the pain being felt across the global automotive industry. The world’s leading carmakers are reeling in the face of the most severe downturn in decades, which saw new car sales in the US plunge more than 35 per cent in December.
The US government has provided $17.4 billion in emergency loans to GM and Chrysler.