This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Toyota to Reduce Production in U.S.

TOKYO -- Toyota (TM - Get Report) said Wednesday it will reduce production in the U.S. to cope with slowing sales in the world's largest economy.

Toyota will stop production at all its plants in the U.S. and Canada for two extra days in addition to the regular Christmas holidays next month, and cut about half of 500 temporary workers at a plant in Georgetown, Ky., by March, said spokeswoman Kayo Doi.

Beginning in January, Japan's top automaker plans to reduce production of the Sienna minivan at its Indiana plant, and slow a line for the Camry and Avalon sedans at the Kentucky plant, Doi said.

At New United Motor Manufacturing Inc. in Fremont, Calif., -- its joint venture with General Motors (GM) -- Toyota will eliminate a shift producing the Tacoma pickup truck.

The production cuts are the latest effort by the company to deal with shrinking demand in the U.S., which is expected to slip into recession this year.

Earlier this month, Toyota said net profit for the July-September quarter plunged 69% and downgraded its full-year profit forecast to about a third of last year's result. Officials said the company also is assessing its manufacturing operations.
Copyright 2008 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
G $22.45 -2.39%
TM $114.34 -3.41%
AAPL $107.72 -4.47%
FB $87.23 -2.46%
GOOG $597.79 -3.31%

Markets

Chart of I:DJI
DOW 16,058.35 -469.68 -2.84%
S&P 500 1,913.85 -58.33 -2.96%
NASDAQ 4,636.1050 -140.4030 -2.94%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs