Toyota announced that it would further cut production at many North American plants over the next few months in a move where it will try to reduce its vehicle inventory by half.
“This is a tough environment, and it may continue for a while,” said Jim Wiseman, vice president of external affairs for Toyota Motor Engineering & Manufacturing North America.
Wiseman said that in addition to the cuts, Toyota is also doubling efforts to cut costs at its facilities. According to Automotive News, Toyota’s U.S. marketing boss Jim Lentz said that the U.S. inventory of unsold cars and trucks should be in line with demand by May.
Toyota’s spokesman Yuta Kaga declined to state the actual number of vehicles involved in the cuts.