Sunday, January 25, 2009

Bad News for Toyota: 7% Drop in Sales

Toyota Motor Corp. has forecast that its global sales will fall to over 7 million next fiscal year in what would be 7% less than Toyota’s global sales in the current fiscal year. Toyota can manufacture over 10 million vehicles globally per year. So, Toyota’s production surplus is expected to mark 3 million next fiscal year. That is why, the Japanese auto maker is making production cut worldwide. It would cut its domestic production to less than 9,000 volumes in February and March because of surging Japanese Yen against foreign currencies. The company also experienced 36.7% drop in its US sales in December last year. So, Toyota is going to reduce its production volume in North America. Toyota will cut 1000 jobs in North America and Britain.

Related article:

Market Watch