Toyota will halt output for 11 days in February and March
Toyota will need to cut output in order to reduce its unsold stocks of cars due to slower demand.
The last time Toyota suspended its domestic production was in 1993, when the Japanese yen soared against the dollar, causing huge sales losses. Toyota suspended production for one day to mitigate this.
America is Toyota's biggest market, and with last month's U.S. sales having nosedived a massive 37 percent, it is clear that concrete steps were needed to be taken.
Toyota's president Katsuaki Watanabe has indicated that the company's strategy for 2009 would be to generate profits from sales of an anticipated 7 million Toyota vehicles. This is about 1 million vehicles short of what the company sold the previous year.
Credits: JRC
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