A decline in sales and continued global recession placed the construction of two new Toyota plants on hold. The new plants that were supposed to be put up in Russia and Thailand were temporarily shelved until some improvement in car sales and the economy would occur.
Toyota already made it public that it is expecting a net operating loss at year’s end. To help cut down on costs, downsizing the global plants situated in key regions of the world had to be done.
Toyota’s car-making plant in Russia was put in operation on the 21st December of 2007. Encouraged by the growing number of Russian motorists favoring Toyota-made cars, the company eyed building another plant in Russia, though now it has to hold up its plans.
(Source) Russia IC
Tags: car sales, Cars, economy, global recession, motorists, Russia, Thailand, Toyota