Toyota Motor Corp., reeling from its biggest U.S. sales drop in more than three decades last year, plans to further cut North American vehicle production this year, Bloomberg reported.
The company is reducing output at all U.S. and Canadian plants by canceling several scheduled production days through April 3 to cut inventory, spokesman Mike Goss said in an interview. Reductions vary by plant and line, and include the elimination of 29 production days this quarter on the Georgetown, Kentucky, plant lines that build Camry sedans, Toyota said.
Toyota is reducing its inventory of unsold vehicles that ballooned to more than 90 days at the end of December, as the company's annual U.S. sales dropped 15 percent. Toyota's move follows Nissan Motor Co.'s announcement yesterday that its U.S. auto-assembly plants will stay on a 4-day workweek indefinitely.
"There's really no way to average these," Goss said, who declined to comment on what further steps may be taken. "We're still studying what the future holds."