Toyota to Further Cut Overseas Production

Tokyo (ANTARA) - Toyota Motor Corp. plans to cut overseas production by around 100,000 vehicles through to February 2027, expanding on previous reduction plans, the Nikkei daily reported on Tuesday. The Japanese automaker stated that logistical disruptions related to the Middle East conflict and weakening consumer demand triggered by rising fuel prices have weighed on sales. The production cuts will mainly target petrol-powered models intended for the Middle East and Asian markets. Toyota had previously planned to cut overseas production by around 38,000 vehicles between May and November this year, but later expanded the reduction to around 83,000 units for the June-November period. The report detailed that persistently high energy prices are hampering car sales, with some consumers postponing purchases and overall demand showing a downward trend.