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

    Interactive: Take a tour through divided Jerusalem

    Interactive: Take a tour through divided Jerusalem

    Take a tour through East and West Jerusalem to see the difference in quality of life for Israelis and Palestinians.

    Stories from the sex trade

    Stories from the sex trade

    Dutch sex workers, pimps and johns share their stories.

    Inside the world of India's booming fertility industry

    Inside the world of India's booming fertility industry

    As the stigma associated with being childless persists, some elderly women in India risk it all to become mothers.