Toyota Motor Corp, Japan’s biggest carmaker, is cutting production in China as sales slow.
The carmaker is reducing daily output in China, Toyota spokesman Hideaki Homma said yesterday by telephone, declining to detail the scale of the reduction or name the models affected.
The carmaker will reduce output of passenger cars by about 10 percent at its factory in Guangdong Province, the Nikkei Shimbun reported earlier yesterday.
Toyota will slow the pace of production for at least a few months, the newspaper said.
China’s passenger car sales fell 6.2 percent last month, the first decline in more than three years.
Sales may fall short of a forecast 10 million this year as slowing economic growth and a slumping stock market undermine consumer purchasing power, the China Association of Automobile Manufacturers said.
Toyota’s sales goal of 700,000 units in China this year hasn’t changed, Homma said.
Toyota, which has suspended some production lines in the US for three months as a result of the market downturn, said last week its overseas output dropped by 16.4 percent last month from a year earlier to 306,299 vehicles.
Its domestic production also fell 14.7 percent from a year earlier to 320,446 vehicles, because of the weak economy and signs that Japanese are losing interest in owning cars in big cities.
ADDITIONAL REPORTING BY AFP
JITTERS: Nexperia has a 20 percent market share for chips powering simpler features such as window controls, and changing supply chains could take years European carmakers are looking into ways to scratch components made with parts from China, spooked by deepening geopolitical spats playing out through chipmaker Nexperia BV and Beijing’s export controls on rare earths. To protect operations from trade ructions, several automakers are pushing major suppliers to find permanent alternatives to Chinese semiconductors, people familiar with the matter said. The industry is considering broader changes to its supply chain to adapt to shifting geopolitics, Europe’s main suppliers lobby CLEPA head Matthias Zink said. “We had some indications already — questions like: ‘How can you supply me without this dependency on China?’” Zink, who also
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) received about NT$147 billion (US$4.71 billion) in subsidies from the US, Japanese, German and Chinese governments over the past two years for its global expansion. Financial data compiled by the world’s largest contract chipmaker showed the company secured NT$4.77 billion in subsidies from the governments in the third quarter, bringing the total for the first three quarters of the year to about NT$71.9 billion. Along with the NT$75.16 billion in financial aid TSMC received last year, the chipmaker obtained NT$147 billion in subsidies in almost two years, the data showed. The subsidies received by its subsidiaries —
At least US$50 million for the freedom of an Emirati sheikh: That is the king’s ransom paid two weeks ago to militants linked to al-Qaeda who are pushing to topple the Malian government and impose Islamic law. Alongside a crippling fuel blockade, the Group for the Support of Islam and Muslims (JNIM) has made kidnapping wealthy foreigners for a ransom a pillar of its strategy of “economic jihad.” Its goal: Oust the junta, which has struggled to contain Mali’s decade-long insurgency since taking power following back-to-back coups in 2020 and 2021, by scaring away investors and paralyzing the west African country’s economy.
RE100 INITIATIVE: Exporters need sufficient supplies of renewable energy to meet their global commitments and remain competitive, the economics ministry said Local export-oriented manufacturers, including Taiwan Semiconductor Manufacturing Co (台積電), require sufficient supplies of green energy to maintain their competitiveness and regulations already ensure that renewable energy development adheres to environmental protection principles, the Ministry of Economic Affairs said yesterday, as the legislature imposed further restrictions on solar panel installations. The opposition-led Legislative Yuan yesterday passed third readings to proposed amendments to three acts — the Environmental Impact Assessment Act (環境影響評估法), the Act for the Development of Tourism (發展觀光條例) and the Geology Act (地質法) — which would largely prohibit the construction of solar panels in some areas. The amendments stipulate that ground-mounted solar
RSS