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TOKYO (Reuters) – Toyota Motor Corp (T:7203) plans to slash North American production by nearly a third through October and expects it will take some time for output to return to normal, according to a person familiar with the matter.
Toyota will build around 800,000 vehicles including its RAV4 SUV crossovers and Camry sedans through October at plants in the United States, Canada and Mexico, the person told Reuters. That is down 29% from the same period last year. The source declined to be identified because the information is not public.
The scaled-back numbers also represent a 32% cut from the Japanese automaker’s forecasts in January, highlighting the pain from the coronavirus crisis. Weak demand, procurement issues and social distancing measures are all expected to hit output.
A Toyota spokeswoman declined to comment on production plans. Toyota is gradually resuming output at its seven North American sites from Monday.
(Additional reporting and writing by Naomi Tajitsu; Editing by David Dolan)
