Toyota extends output cut at Chinese JV to ease dealer pressure
Japan’s Toyota Motor has told dealers that it will extend a plan to reduce output at one of its joint ventures in China, where it faces rising competition.
The cut, which was initially for October and November, will be extended by three months, Toyota’s joint venture with China’s state-owned FAW Group said in a letter dated Nov. 3, which was seen by Reuters and verified with one of the dealers.
Its aim is to ease inventory pressure on dealers and ensure they can operate well in the “severe market environment”.
~ Further evidence of the Big Trouble in (not-so) Little China