Toyota slashes vehicle output

Japanese carmaker cuts vehicle output by almost a third as it battles falling sales.

    Hit by falling global sales Toyota has forecast an annual loss this year of $8.6bn [Reuters]

    "We expect the severe conditions to continue this year," she said.

    Toyota, which has been hit hard by falling demand in its key European and North American markets, has already said it expects the current fiscal year through March 2010 to be its worst-ever financially.

    On Monday Toyota shares fell 5 per cent after it forecast a much bigger-than-expected annual loss of $8.6bn.

    The global financial crisis has hammered demand for cars around the world, pushing Toyota's US rival Chrysler into bankruptcy and forcing many other car companies to slash output and jobs.

    SOURCE: Agencies


    YOU MIGHT ALSO LIKE

    Why some African Americans are moving to Africa

    Escaping systemic racism: Why I quit New York for Accra

    African-Americans are returning to the lands of their ancestors as life becomes precarious and dangerous in the USA.

    What happens when the US government shuts down?

    The US government has shut down. What happens next?

    US federal government begins partial shutdown after Senate blocks short-term spending bill. What happens next?

    Why is the West praising Malala, but ignoring Ahed?

    Why is the West praising Malala, but ignoring Ahed?

    Is an empowered Palestinian girl not worthy of Western feminist admiration?