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Toyota, Honda slash production

Posted Thursday, Jun 25, 2009, 2:25 pm in Employee News

Toyota Motor Corp. and Honda Motor Co., Japan’s two largest carmakers, reduced production last month as rising unemployment in the United States has hammered car sales, Bloomberg reported.

Toyota’s output dropped 39 percent to 442,621 vehicles in May from a year earlier, the company said in an e-mail released today, the news service said. The decline is the company’s 10th straight. Honda, the country’s second-biggest carmaker, cut global production by 38 percent to 195,085 units, it said. Nissan’s global output fell 27 percent, Bloomberg said.

Accoding to the news service, Japanese automakers slashed production in North America last month to reduce inventories as overall sales in the United States plunged 34 percent. Sliding demand in the United States has led Nissan Motor Co. to cut 20,000 jobs this fiscal year and pushed General Motors Corp. and Chrysler LLC into bankruptcy, the story said. (Bloomberg)
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