As I stated in an earlier post, “Best Cars for the Money, Toyota Clear Winner”, in a troubled economy car buyers are focusing on stretching their dollars with carefully planned or delayed auto purchases. This has led to Toyota being The Number One Auto Seller worldwide in 2008 over General Motors!
However, demand for new vehicles are down and Toyota will scale back automobile production on U.S. vehicles with a plan to cut its inventories by nearly half….
There will be no new 2009 Solara or Sequoia SUVs. Production on new 2010 Sequoia is planned for late 2009. There will also be very limited availability of Tundra, 4Runner, Avalon, Tacoma, Matrix, FJ Cruiser, Rav4, and Scion models for 2009. The Prius will be scarce during the year with production of a new 2010 generation scheduled for later in 2009.
On average, Toyota has an inventory of 80 to 90 days of North American-built vehicles on hand to ship to dealers and plans to cut that inventory by half in the second quarter of 2009.
“This is a tough environment, and it may continue for a while, we will continue to do everything possible to assure viability and protect long-term employment security of our team members,” a spokesman recently said.