Toyota cuts production again

Reports coming from Japan say that Toyota has made more cuts to its estimated global production this year, further proof of that the economic slowdown in the US and Europe is effecting the world’s biggest carmarker. The reductions, reported by The Nikkei newspaper in Japan, mean that Toyota is moving back from its stated ambition to sell more than ten million cars in a year. The company had previously announced that it was cutting its estimate for sales in 2008 from 9.85 million to 9.5 million units. Now Toyota is also cutting its production estimates for next year, from 10.4 million vehicles to 9.8 million. The company also thinks that sales in major markets will continue to stagnate, with growth coming from emerging markets such as Russia, India... [read full story]