Toyota Motor Corp., Japan’s biggest automaker, plans its first long-term closure of a domestic assembly line as car sales in the country fall to the lowest in more than 30 years...
Nissan Motor Co., Japan’s third-largest automaker, is also forecasting a second straight loss of 170 billion yen this fiscal year. Honda Motor Co., the second-largest, forecasts a 55 billion yen profit, helped by its motorcycle business.
Toyota has global production capacity of about 10 million units, spokeswoman Takeuchi said. Worldwide output may total 6.68 million this fiscal year, down from 9.24 million last year, according to a company forecast.
The carmaker had a domestic market share of about 40 percent last fiscal year, excluding its Lexus brand. Toyota’s sales in Japan fell 23 percent through July. Honda’s domestic sales declined 12 percent in the same period, and Nissan’s dropped 22 percent.
Exports Plunge
Toyota will cut global capacity by 1 million vehicles this fiscal year, the Nikkei newspaper reported earlier...
Toyota also plans to shut a joint-venture factory in California with General Motors Co., according to people familiar with the plan. GM said in June it would end assembly of Pontiac Vibes at the plant, where Toyota builds Corolla compacts and Tacoma pickup trucks. bloomberg.com |
