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Toyota’s new boss warns of two more tough years
Toyota’s new boss warns of two more tough years
Posted Thursday, Jun 25, 2009, 2:23 pm in Employee News
The new head of Toyota Motor Corp. warned today the auto industry faces two years of tough times, as he outlined his strategy to make the company profitable again, Reuters reported.
The world’s biggest automaker aims to build more autonomous operations in North America and shift its focus toward marketing region-specific vehicle lineups, instead of providing a full lineup in every region, newly appointed President Akio Toyoda said at his first media conference as boss, the news service said.
Most of Toyota’s factories around the world are underused as the global recession has hammered car sales and forced two of the Detroit three into bankruptcy protection, Reuters said. Facing a second straight year of record losses, Toyota aims to cut costs from its already lean operations so it can be profitable using just 70 percent of its factory capacity, the story said. (Reuters/Automotive News)
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