LexFather

http://news.yahoo.com/s/ap/20090106/...s_japan_toyota

TOKYO – Toyota is suspending production at all 12 of its Japan plants for 11 days over February and March, a stoppage of unprecedented scale for the nation's top automaker as it grapples with shrinking global demand.

The last time Toyota Motor Corp. halted production at all its Japan plants was in August 1993, when demand plunged because of a rising yen, and that was for only one day, according to the company.

A global economic downturn has hammered the auto industry in Japan and elsewhere, forcing carmakers to cut staff, lower production and delay new models. Major automakers in the U.S. had teetered on the brink of collapse until securing a multibillion dollar government lifeline.

"We are coping with a slump in global sales," Toyota spokesman Hideaki Homma said Tuesday. "Demand in the world auto market is so depressed that every model is falling sharply in sales."

Toyota said last year that it was stopping production at its 12 domestic plants for three days in January. But it decided on additional closures because of the global downturn. Toyota will stop output for six days in February and five days in March, it said.

Of Toyota's domestic factories, four produce vehicles while the rest make engines and auto parts.

Overnight, Toyota reported that its U.S. sales in December were down 37 percent on year, a worse drop than Ford Motor Co.'s 32 percent drop and GM's 31 percent slide.

The manufacturers are also struggling in its home market, which has been stagnant for years. The sales drop has worsened this year amid a global recession.

Sales of new vehicles in Japan fell to 3.2 million vehicles last year, the lowest in 34 years, the Japan Automobile Dealers Association said Monday.

Last month, Toyota said it was slipping into its first operating loss in 70 years, expecting 150 billion yen ($1.66 billion ) of operating losses for the fiscal year ending March 2009.

Toyota, which makes the Prius gas-electric hybrid and Camry sedan, expects 50 billion yen ($555 million) in net profit, down from 1.7 trillion yen earned the previous year.

hapaboy

if i lived in japan, i wouldn't own a car. the train and subway system are a magnificent way to get around on a daily basis, even also for a family.

rominl

iTrader: (4)

oh man, this can't be good....

Indio

iTrader: (1)

Almost 24 hours and only 2 responses? Change the name in this thread to GM or Chrysler and there would be 3 pages of people piling on, where's the commenting society that thinks Toyota is recession proof and everyone else is getting what they deserve?

Global downturn means everyone....clear now?

I8ABMR

I heard on the news that all of the automakers are down , but they said that Toyota was hit hardest this last month. Not sure exactly what they month or period they were talking about 100% but it was toyota who was down the most. I am suprised. Actually no I am not. I am glad I am not in the auto business. I think its the lowest sales point for the auto industry since the erly-mid 90's

rominl

iTrader: (4)

toyota was down the most? huh? where from? quote? numbers? when chrysler sales dropped 50%, i think it's hard to top that. and regardless of numbers, toyota is still profitable i am pretty sure

i don't know who would think or say toyota won't be hit by recession, that doesn't make sense coz' it's part of global economy. but i would believe given a time period toyota would be one of the few who are resistant to recession and not greatly affected

in my eyes, i don't feel surprised or so about toyota shutting down. when i see this news, i feel sad for a lot of other companies, coz' that means they are in much deeper hole

I8ABMR

just looked it up. The numbers are for December. Toyota fell 37%
Honda 35%
GM 31%
Ford 32%
Nissan 31%
I dont even think Chrysler is even considered. You cant fall if you are on the floor.lol


So of the viable automakers toyota fell the most for december. Its on yahoo news

Dave600hL

The problem is that there a trend not to buy new cars here now, in the past used cars dealers did not do very well as there was a preferance for people to buy new, but now they are really showing good returns.(obviosly sales have dropped of late, but not as much as new car sales)

But no where near as fun and I don't particulary like being packing in a train so I can't move 1" in any dirrection at rush hour. At least when you are in traffic you will have the option of watching TV or listening to the ML.