Weak June has Toyota reviewing U.S. ops

Weak June has Toyota reviewing U.S. ops

Filed under: SUVs, Trucks/Pickups, Hirings/Firings/Layoffs, Toyota, Earnings/Financials

Toyota posted a 10% sales decline for its bread-and-butter brand of over the month of June, with numbers that are even worse -- an 11.5% drop -- when the Scion and Lexus brands are added into the equation. In response to these very un-Toyota-like sales declines, the automaker is now revamping its vehicle production in the States. Though it has already introduced measures to slow the production of full-size Tundra trucks and Sequoia SUVs, reports indicate the further cuts will be made at the San Antonio truck plant. The Indiana plant, which also produces Tundras, will see workers transferred to other lines where more popular vehicles are assembled. Even plants in Japan that export vehicles to the U.S. could be affected. Toyota is hardly used to seeing double-digit drops in sales in the U.S., so it will be interesting to see how the giant Japanese automaker responds in the months to come.

[Source: MarketWatch]

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At least Toyota does something to change it's sales goals unlike domestic car companies. From what I see here, they transfer workers instead of laying them off.

That's because the domestic guys are bound by union obligation to either keep the employees busy or to pay them when they are furloughed.

Thing is, no one is showing stellar numbers. Folks are broke. All cash is going to bills, gas and groceries.