Auto Knight

Toyota Slowing Production In China

by Darren

The slowdown for auto makers is global now. Toyota has announced they’re slowing down production in China as sales cool. China had been a bright spot for international auto makers, but that appears to be changing rapidly.

The Nikkei economic daily reported that Toyota plans a 10-percent cut in production at its joint venture in China with Guangzhou Automobile because demand is falling due to tighter credit and falling share prices.

The auto giant has already curbed production of its Yaris small passenger car, the daily said without naming its sources.

The Guangdong plant, which produces Camry and Yaris cars, has an annual output capacity of 200,000 vehicles a year.

As sales have plummeted, Toyota has been quick to slow production. The company said they cut global production by 15.5% in August alone.