Report: Toyota has decreased its North American production forecast

In the wake of its recent recall situation and subsequent suspension of sales, Toyota has lowered North American forecast this year by 60,000 vehicles. The decline will be offset however, by an upward revision of 100,000 units in other markets, lifting global production by approximately 1 percent to 7.57 million vehicles for 2010.

Subsidy-led demand for fuel-efficient cars in Japan lead Toyota to raise its domestic production by about 40,000 units, representing a 19 percent jump in production from 2009.

Year over year figures show Toyota posting a 12 percent drop from last February in an industry that is up 10 percent, though production at ToMoCo”s wholly-owned North American plants is up 85 percent through three weeks of March.

– By: Stephen Calogera

Source: Automotive News (Subscription Required)