Toyota to Halt Production for 11 Days Due to Declining Sales

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.

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