TOKYO, Jan 25 – The world\’s biggest automaker Toyota Motor Corp. will cut production by 20 percent this year as it tries to cope with falling worldwide demand, a report said Sunday.,
The company plans to build 6.5 million vehicles this year, compared with an estimated 8.21 million units built during 2008, the Tokyo Shimbun said.
The figure excludes output from Toyota units Daihatsu and Hino.
Officials at Toyota were not immediately available for comment.
The report came a few days after sales figures showed that Toyota has overtaken Detroit rival General Motors as the world\’s biggest car maker, but the ongoing global economic crisis is weighing heavily on demand.
The Toyota group is due to release its latest data before month\’s end.
Global sales for 2008 are expected to show a drop for the first time in a decade and the group could also post its first-ever annual operating loss for the year to March.