By Makiko Kitamura
Jan. 25 (Bloomberg) -- Toyota Motor Corp., the world’s biggest automaker, will cut worldwide vehicle production by at least 20 percent this calendar year as a global recession damps demand, the Tokyo Shimbun reported today, without citing sources.
The carmaker will produce about 6.5 million vehicles this year, down from an estimated 8.21 million vehicles in 2008, the newspaper said. The figure excludes output by units Daihatsu Motor Co. and Hino Motors Ltd., it said.
Toyota is scheduled to release 2008 global production figures on Jan. 28.
Toyota said last week worldwide vehicle sales fell 4 percent to 8.972 million in 2008, the first drop in 10 years. The automaker, based in the central Japan city of Toyota, expects to post its first operating loss in 71 years for the 12 months ending March 31, as the credit crunch discourages consumers from buying new cars.
Toyota spokesman Paul Nolasco could not be reached immediately on his cell phone for comment.
To contact the reporter on this story: Makiko Kitamura in Tokyo at at Mkitamura1@bloomberg.net.
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