Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Toyota sees further recovery in global car production in August

Published 2020-07-21, 06:41 a/m
Updated 2020-07-21, 08:30 a/m
© Reuters. Bangkok International Motor Show

© Reuters. Bangkok International Motor Show

TOKYO (Reuters) - Toyota Motor Corp (T:7203) will make 2% fewer vehicles globally in August than originally planned, the Japanese automaker said on Tuesday, as output recovers gradually from a steep drop because of the coronavirus pandemic.

The company said it aimed to make 15,000 fewer vehicles than its initial plan, which was around 750,000, according to Reuters' calculations. August's reduction is smaller than the cut of 10% seen in July, and June's 40% reduction.

As Japan fears a second wave of infections spreading from the capital, one Toyota employee working at its headquarters has tested positive for coronavirus since developing symptoms earlier this month, the company said on Tuesday. Toyota added it disinfected the affected work sites on July 17 and restarted operation shortly afterwards.

In the midst of the pandemic, the company also plans to skip media briefings for its fiscal first and third quarterly results, but only release filings, a company spokeswoman told Reuters.

Global automakers are slowly getting vehicle production back on track after the closure this year of many plants to curb the spread of the virus, although many still anticipate that output and sales will be lower than last year.

The updated production plan represents an output cut of 9% from a year ago.

© Reuters. Bangkok International Motor Show

Toyota said it would produce 6,000 fewer vehicles at home, and 9,000 less overseas.

Latest comments

Will this impact the RAV4 Prime production for 2020 - any numbers in deliveries to US or Canada?
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.