Toyota has announced that it will be further reducing levels of production at facilities across North America, again limiting production to meet the dwindling demand for new cars. Already, Japan’s largest automaker has been forced to make production cuts, and even halted production multiple times this year.
Among the facilities that will face production cuts is Toyota’s Indiana factory for six days, along with a plant in Kentucky for nine days, and also a Canada-based facility for 10 days. These production cuts will also include the idling of a plant in California which produces the Toyota Corolla and the Toyota Tacoma pickup for a total of 10 days, despite strong sales at Albuquerque used Toyota dealers for both models.
Last month Toyota had announced additional cut backs, including hundreds of contract employees in the US and Canada. In Toyota’s home market of Japan, sales have also stumbled, and the automaker has already cut production goals, along with bonuses for midlevel managers.
The economic slowdown in the US has kept many consumers away from dealers. Toyota sales in November fell 34 percent. To make matter worse, Toyota’s premium Lexus brand also saw sales stumble 35 percent, putting added strain on the automaker as it suffers in Japan and other markets as well. With buyers skeptical about making a new car purchase, Tacoma used Toyota dealers were glad to see that Toyota Financial Services introduced 0 percent financing for qualified buyers. That being said, Toyota still remains competitive against its domestic rivals which saw even greater losses in November.
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Look for Toyota production updates here.
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