Toyota is poised to slash production by as much as 580,000 vehicles – nearly 6% of global capacity – in an effort to stem losses amid sliding vehicle sales. The world’s largest carmaker, which forecasts its second consecutive net loss this year, said it would shut a production line in western Japan from next spring through to late 2011, reducing output by 220,000 vehicles. It is also looking to pull out of its manufacturing joint venture with GM in California and, according to Japanese media, could cut back  production in the UK.

This entry was posted by Gwen Robinson on Thursday, August 27th, 2009 at 4:49 and is filed under Capital markets. Tagged with Toyota. Edit this entry.