While the US car companies struggle to survive and GM (GM) and Chrysler say they may not make it until the end of the year, even mightly Toyota is bleeding.
The Japanese car company will gear down production in the US as its sales continue to fall, many months by 30% or more.
According to The Wall Street Journal, "The company is expanding the number of nonproduction days at each facility this month and next at varying levels depending on the products and their inventory levels. This adds to cuts announced last month when two production days were taken out at all the plants in December and about 250 temporary workers were laid off."
Toytota hopes that the action will bring down inventories.
Douglas A. McIntyre