Friday, January 16, 2009

Toyota to Cut in North America Production again in Fear of Annual Operating Loss

Toyota Motor Corporation is going to cut its production once again in the North American market because of slow-down in the market. In fact, for the first time in 70 years, Toyota predicted an annual operating loss recently. The decrease in production will vary in car models and this reduced production comes into effect in the facilities in the upcoming months. Because of economic recession and oil price hike, Toyota’s sales decreased significantly last year and the Japanese automaker is now also in fear of facing an annual operating loss this year.

Amidst global credit crunch, car makers are facing huge problems as no. of sales volumes has been reduced considerably and the situation is getting aggravated day by day. People are also looking for hybrid cars and fuel efficient cars.

Related article:

Fox News