Will suspend domestic production in Feb-Mar: Toyota

Posted By: Staff
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Tokyo, Jan 6: On Tuesday, Jan 6 Toyota Motor Corporation announced that it would suspend production at all of its domestic plants for 11 days between February and March in response to low sales. A Toyota spokesperson said, "We will suspend the operation of 12 Toyota factories in Japan for 11 more days."

To cope up with the rapidly worsening demand, Japan's top automaker is already idling its domestic plants for three days in Jan. The latest output cuts came after the Japanese auto giant last month forecast its first-ever annual operating loss, blaming 'an unprecedented crisis' in the global auto industry.

The company has already moved to reduce production at its domestic, US, Canadian and French factories, and plans to lay off 3,000 temporary workers in Japan. Japan automakers are badly hit by the global economic crisis. Toyota's troubles underscore the deepening crisis in the auto industry. The big three US automakers had asked for financial lifelines from the US government to ward of bankruptcy and fight financial meltdown.

OneIndia News (With inputs from Agencies)


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