Toyota To Cut Production As Coronavirus Squeezes Demand

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Toyota Motor Corporation is cut production of finished vehicles by 40 percent in Japan in May as demand shrinks around the world because of the coronavirus pandemic.

The measures, which will cut production to 79,000 vehicles for the month, include suspending production on some days and reducing shifts from two to one at some plants.

 Toyota had said it was suspending auto production in its Brazil plants until at least June 22, joining General Motors Co which also expects to resume production in the same month.

Most carmakers in Brazil, South America’s top auto producer, are currently not producing cars due to the coronavirus crisis.

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