Toyota' Worldwide Production Down 39% In May
Domestic production plunged 41.9%, whereas production in the US declined by 48.2%
Japanese auto major, Toyota Motor has reported a fall in its global output in May. The company said that its worldwide output dropped 38.8% from a year earlier, to 442,621 vehicles.
Toyota' global production declined for the 10th straight month. Its domestic production slipped 41.9% to 192,637 units. The company’s production in the US plunged 48.2%, to around 56,000 units. Toyota operates five auto plants in the US.
The total production of Toyota has been adversely affected by the global slump in auto demand and due to the strong Yen, which eroded its overseas profits.
The company told shareholders that it has seen only a scattered recovery, and expected its business environment to remain tough in the near term.
Japanese automakers had cut production in North America in May to reduce inventories, as overall sales in the US plunged significantly.
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