Toyota to cut production

Toyota to cut production

TOKYO (AFP): The Japanese financial daily Nihon Keizai reported yesterday that Toyota Motor Corp. planned to cut domestic production this year by 100,000 units to around 3.3 million vehicles.

"We won't confirm or deny the report," an official for the nation's biggest automaker said. "It is speculation."

However, the official said Toyota would shortly announce its revised plan for the year, although "no concrete figures have been decided" yet.

It forecast Toyota's 1995 domestic sales at 2.18 million units, down from the company's estimate of 2.24 million units.

The daily also forecast Toyota's 1995 vehicle exports at 1.15 million units, compared with the company's forecast of 1.25 million units.

Toyota's domestic vehicle sales rose 0.7 percent to 1.05 million units in the six months to June from a year earlier, while total domestic vehicle sales increased 7.0 percent year-on- year in the same period.