Toyota has announced plans to idle its plants in Japan for 11 days in February and March due to declining sales in the U.S.
Last month Toyota reported a 37 percent sales decline and now vehicles are beginning to pile up. Last month was Toyota's sharpest decline in more than a quarter of a century. Toyota even performed worse than GM and Ford.
"I never expected the crisis to spread this fast and leave this deep a scar," Toyota President Katsuaki Watanabe told reporters at a Tokyo event hosted by Japan's top business lobbies.
Nissan and Honda have also announced to cut production by at least 200,000 vehicles for the year ending in March.
Full Story: CNNMoney.com
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Comments (14)
Come on price cuts, oh wait, this is Toyota and they make no vehicles that are anywhere near desirable.
Posted by gm0n3y | January 6, 2009 12:23 PM
Posted on January 6, 2009 12:23
If that were the case then they would be offering employee pricing.
Posted by zippy | January 6, 2009 2:10 PM
Posted on January 6, 2009 14:10
they did. Its called "Employee sit at home pricing."
works wonders on the company budget.
Posted by Sandman | January 6, 2009 2:16 PM
Posted on January 6, 2009 14:16
Honestly I think the GM method is better as you dont upset your employees and the increased sales numbers drive up consumer confidence.
An employee going home for 11 days deflates your sense of job security and scares said employees into using those days to seek employment opportunities elsewhere.
Posted by Sandman | January 6, 2009 2:27 PM
Posted on January 6, 2009 14:27
@ gm0n3y:
I guess you are right that Toyota doesn't make desirable vehicles, if by desirable, you mean anything out of the vanilla norm in styling or personality. But I think you're implying that they don't make decent cars, and frankly that's just stupid.
I agree that most Toyota's are about as bland as they come in the styling department, supposedly to appeal to the widest segment of the population, but they make very well built cars, even if you don't care for how they look.
Personally, I'd rather take 11 days off without pay, than have my plant shut down, and loose my job becasue my company is completely mis-managed, and cost tax payers $15B that they'll never see again, but perhaps that's just me.
Posted by Paul | January 6, 2009 3:14 PM
Posted on January 6, 2009 15:14
Toyota has gotten a fat head in the last several years and raisied their prices too much. Now they pay the price. Glad to see it.
Posted by bob | January 6, 2009 5:58 PM
Posted on January 6, 2009 17:58
All the manufacturer's sales were down about 30%. Hello depression.
Posted by Billo | January 6, 2009 8:39 PM
Posted on January 6, 2009 20:39
@bob,
umm, wtf?
What has Honda had since the early 90's?
When can they shut down for a month or two?
My reason for dislike of Honda is actually quite simple: every accident, or near miss I've ever been involved in has been with someone driving a Honda. Typically either being driven by a woman (probably on a cell phone) or someone who doesn't speak english (and is typically from south of the border).
Posted by Brain | January 6, 2009 10:11 PM
Posted on January 6, 2009 22:11
Sandman:
I like the GM method too! Government bailouts are much more desirable and they don't have to be paid back, in the US anyway. In addition, it helps GM's argument that wages need to be cut and retirement packages axed. US Taxpayers just wouldn't accept them blue collars making too much.
Posted by Subpra | January 6, 2009 11:13 PM
Posted on January 6, 2009 23:13
Technically the bailouts are "loans", but it'll be a cold day in hell before anyone of these companies pay back the Government, banks or auto cos. We will never see any of that money again. Everyone knows it, but they are so scared about the failing economy they don't care about the consequences of borrowing several trillion dollars from China. Bailout is synonymous with giveout. It will all be poof gone before 2009 is out and things will be worse than ever this year. Get ready for a bumpy ride folks. We ain't seen nothin yet.
Posted by GRIZZ | January 7, 2009 12:40 AM
Posted on January 7, 2009 00:40
@ Brain
LOL yea I agree with you!! I have been involved into accidents....
both being HONDAS.....and being WOMEN, one didnt have there lisence and ran a red light the other she was jabbering on a cell phone....
What if we made cars less safe? would be more of a incentive to drive safer?
Posted by Hunter | January 7, 2009 1:31 AM
Posted on January 7, 2009 01:31
@ Hunter,
Well you can go either way on that one.
I'm all for letting me choose my level of safety, two air bags, or a total cannoli experience. ABS or no? Stability control?
Or we go back to offering cars that are built like tanks. My parents had a 77 Caprice Classic back in the 80's with the 305... Fine it wouldn't go over 80 (needed a major tune up) and if you floored it you could actually watch the gas gauge drop, but it was pretty indestructible.
A Jeep Wrangler merged into my mom while driving it (I have no idea how you miss the thing), and it only scraped the passenger side fender and door. The Jeep had extensive damage to the body and suspension...
Posted by Brain | January 7, 2009 9:37 AM
Posted on January 7, 2009 09:37
What did Toyota thi9nk that they were an exception to the economic meltdown as if this totally surprised them when no one was buying their cars too? I guess being number 1 does that. Fact is it doesn't matter how good your cars are or selling as soon and the economy takes a nose dive every retail product will suffer greatly across the board no matter who it is.
Posted by SteelCity1981 | January 10, 2009 12:51 AM
Posted on January 10, 2009 00:51
Your piece of shit american cars cant sell for shit that will break down in the first week u have it toyota runs this shit!!!!!!!!!!!!!!!!!!!!!
Posted by Ray (supra man) | February 5, 2009 4:23 PM
Posted on February 5, 2009 16:23