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Toyota profits drop; considers closing CA plant

Posted Tuesday, Jul 21, 2009, 11:12 am in Employee News

Toyota’s top U.S. executive says the company is not profitable in North America, despite cost cutting. He also told The Detroit News that the company is debating whether to keep open the 25-year-old New United Motor Manufacturing Inc. assembly plant in Fremont, Calif. The plant, which employs 4,700 people, is a joint venture formed with GM.

According to the story, Toyota’s sales have fallen 38 percent in the first six months of the year — to 770,000 cars and trucks from nearly 1.25 million vehicles in the first six months of 2008. U.S. industry auto sales fell 35 percent in the first half of the year, the Detroit News said. (The Detroit News)
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