Toyota is cutting back production in Japan in response to the downturn in the global vehicle market.
Go deeper with GlobalData
The Tahara plant will stop for two days at the end of the month to produce 5,000 fewer Lexus cars. Another subsidiary plant will also stop for two days.
In addition around 8,700 managers will have to settle for lower bonus payments – cuts of around 10%, according to local press reports. The company has not said how much money it will save as a result.
Japanese car sales were down 27% last month, the lowest for 39 years.
At the beginning of November, Toyota cut its forecast for the year and said it expected group profits to be down 68%.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
