Toyota to Cut Production in Japan by Half as World Markets Continue Coronavirus Slump
Toyota Motor (NYSE: TM) will cut its auto production in Japan by about half from its most recent plan next month, a move that will affect 18 of the company's factories and dozens of suppliers, according to a Nikkei report on Wednesday.
Nikkei reports that the Japanese auto giant will also cut its Japan production in June due to growing pessimism about the prospects for recovery in the North American auto market. About a quarter of the vehicles that Toyota manufactures in Japan are exported to North America.
Image source: Toyota.
Source Fool.com