US: Toyota considering US production cuts
Toyota is reported to be lowering is US production targets in response to higher fuel prices and worries that the economy could slow down, according to Dow Jones.
In particular Toyota is said to be reducing production of pick-ups at its new Texas plant. The plant is scheduled to open in November and has an annual capacity of 200,000 units, but Toyota is targeting to make 150,000 pickups in 2007, said the report, quoting Japanese press sources.
However Toyota will double its orders for passenger cars to 200,000 from Subaru of Indiana Automotive Inc. from October 2007.
Toyota's US sales have risen 11% this year but growth is likely to slow next year.