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Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: Report: Toyota to halve Japan vehicle output By TOMOKO A. HOSAKA,Associated Press Writer AP - 2 hours 6 minutes ago TOKYO - In yet another sign of Japanese automakers' deepening distress, Toyota Motor Corp. between February and April plans to make just half the number of vehicles it produced the previous year, a major newspaper reported Saturday. Japan's top carmaker will slash production during the period to about 9,000 vehicles a day and may need to trim its full-time work force as a result, the Asahi Shimbun said without citing sources. Japan's automakers have so far managed to avoid layoffs of regular employees by instead cutting nearly all of their temporary assembly line workers. Toyota representatives were unavailable for comment Saturday. The news adds to an already dire outlook for Toyota and other Japanese automakers, who are reeling from plunging demand in key markets like the U.S. as well as a stronger yen. Appreciation of the Japanese currency reduces the value of overseas profits. "Even emerging nations' sales entered negative territory in October, and we think an increasing number of countries will see year-on-year declines in 2009," said Goldman Sachs auto analysts Kota Yuzawa and Yukihiro Koike in a report Friday. Toyota, which expects its first operating loss in 70 years for the fiscal year through March, said earlier this week that it would make further production cuts in North America to cope with slumping sales and high inventories. The company had initially planned to produce 4.21 million vehicles in Japan for the current fiscal year, but trimmed its projection to 3.85 million. On Friday, rival Honda Motor Co. said it was cutting 3,100 temporary workers and lowering output by 56,000 vehicles in Japan and 17,000 vehicles in Europe for the fiscal year through March. Nissan Motor Co. said this week it was reducing domestic production by another 64,000 vehicles in February and March. And starting 2010, Japan's No. 3 carmaker plans to shift some production of its top-selling compact, the March and counterpart Micra model, to India, Thailand and other lower-cost countries from Britain and Japan. Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: Business Parmalat eyes Goodman Fielder dairy unit -reportReuters - 26 minutes ago Indian villagers intensify protest against VedantaReuters - 37 minutes ago Emaar U.S. unit to cut jobs due to slowdown -paperReuters - 41 minutes ago Key Malaysia by-election too close to callReuters - 43 minutes ago WRAPUP 2-Russia, Ukraine meet amid hopes of gas dealReuters - 49 minutes ago Most Popular – Business Viewed Hormone drives sexy women to infidelity, says study 'Dogs don't wear condoms,' says Baywatch star Anderson Michelle Obama's ball gown has fashionistas abuzz Israel poised to call unilateral halt to Gaza onslaught Boy George jailed for 15 months for imprisoning escort View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

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