This should be expected since the economy is so bad. But Toyota is in such a dominant industry position that the company will bounce back full of profit after the downturn is over.
Toyota Expands Shutdowns of U.S., Canada Factories Amid Slump
Dec. 5 (Bloomberg) -- Toyota Motor Corp., a day after opening its seventh North American auto assembly plant, said it plans to further reduce production at factories in the U.S. and Canada as sales slow.The largest Japanese carmaker is eliminating nine days of output by extending an annual holiday shutdown of its Georgetown, Kentucky, facility and closing the location two additional days in January, Mike Goss, a spokesman, said today in an interview. Holiday shutdowns are also extended at the plant in Fremont, California, that Toyota shares with General Motors Corp. and at plants in Cambridge and Woodstock, Ontario, the company said.
"This is related to inventory being too high," Goss said. "We want to try to avoid having to do a longer shutdown."
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