Posted on 01/05/2009 10:07:29 PM PST by bruinbirdman
Toyota on Tuesday said it would halt production at most of its domestic plants over an additional 11 days in February and March, highlighting the impact of the relentless decline in global demand.
Japan’s largest carmaker, which has been a benchmark for quality and efficiency, said it was cutting 18 shifts over 11 days, or the equivalent of 9 days worth of production at all 12 of its domestic facilities in those two months.
The cutbacks, which come on top of three days of production stoppages this month, will affect most of Toyota’s models made in Japan, excluding those outsourced to subcontractors, the company said.
Toyota’s decision underscores the pain being felt across the global automotive industry, which has seen sales plunge in key markets, such as the US and Europe.
The Japanese carmaker is forecasting its first operating loss in 71 years, of Y150bn, compared with an earlier estimate of Y600bn in operating profits.
The production halt comes as Japanese car sales, including mini-vehicles with engine sizes of 660cc or less, last year dropped to 5.08m, or just 65 per cent of sales in 1990, which hit a peak of 7.78m units.
Toyota, which had been expected to become the first carmaker to hit the 10m sales mark, globally, cut is sales estimate for the year to 7.54m units, or 15 per cent below last year’s volume.
A very bad sign regarding the current world economy.
Ping!
yitbos
Yet, dealers continue to demand a premium or refuse to bargain off of sticker for a hybrid.
The dealers I emailed for prices didn’t even respond.
Hussein and his socialist congress is going to offer super tax rebates on hybrids. Remember when Uncle Sam deducted $500 for buying a deisel? Then hybrids? They will up the deal. Japan is counting on it so will sit on inventory.
yitbos
After months of uncertainty, I bought a certified used Honda Accord 2 days ago.
Didn’t even consider looking at hybrids - the prices on “normal” cars are much better now (the dealer sold the Accord at $3000 below Kelly Blue Book/$2000 below Edmunds TMV values.
” I bought a certified used Honda Accord 2 days ago.”
Good for you . I’m a Honda man in Japan .
My 3rd Honda in the last 5 years - also own a CRV and used to own a 2001 Accord.
Honda makes quality cars at an affordable price. I will be a Honda customer for life.
I test drove one when I was home last year and it was pretty sweet.
Anybody have any experiences with those?
The stuff I could tell you about how well Honda buyers are treated by dealers in Japan . You could by a new 15,000 car but they’ll treat you just as great as the guy who bought a $ 40,000 car . Primo company . Sorry to say American automakers have lost it .
The dealers I emailed for prices didn't even respond.”
Toyota dealers are the most arrogant business people I have ever encountered. I would say a good 70% of the sales staff does not know their own product -- ask them a question, and they have to refer to the sales brochure. They have an attitude, 'hey, its a Toyota and you should feel privileged we will let you buy it.'
Sorry to say you lost it...patriotic feeling for your country...or perhaps you are Japanese or do you work for Honda. Honda lost much money you know. Good thing they are always bailed out by Japan-no worries.
Just to let you know, GM has some great products and good prices as well. I am buying an Uplander myself and was in the showroom yesterday.
People buying Hondas over American cars have lead to a decline in good paying jobs with benefits...which has already lead to a national health plan in the works- this year...more socialism to come. Those of you who buy foreign products over American products have no reason to complain when this country become a socialist hell hole...people will get what they need in terms of benefits from work or sadly from government.
Good job all you Honda buyers. Hope you got a really good deal so you won’t mind paying the all those new taxes coming your way in order to pay for all the new, new deal or as I like to call it socialism.
Asia is not going to rescue the world economy.
By Ambrose Evans-Pritchard
Last Updated: 10:06AM GMT 04 Jan 2009
The news from Japan, China, and the Pacific tigers has moved from awful to calamitous since the global industrial system snapped in October.
A raw reality is being laid bare. The mercantilist export model of the East is proving dangerously geared to the debt-driven excesses of the West. As we go down, they go down too. Some are going down even harder.
Japan's industrial output contracted by 16.2pc in November, year-on-year. "For an economy which lives from the prowess of its industrial exports, this is simply earthquake," said Edward Hugh from Japan Economy Watch.
Japanese exports fell 26.7pc. Real wages fell by 3.1pc, the seventh monthly fall. Taken together, the figures are worse than anything during Japan's "Lost Decade". They have a ring of 1931.
{snip}
At least that's what Richard Shelby told me last month.
Well, no.
The plant has never operated, so it could never be "closed."
The building will be finished, but no machinery will be installed until the market for cars recovers.
That's quite a different picture than the one you've been painting.
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