Automakers Have Cut Their Production
Amid the world wide economic turndown Japanese auto makers have virtually stopped producing all types of cars with vehicle production falling around 20% previous month.
The fading demand for automobile, not only in Japan but also in international market, has caused Toyota Motor Corporation, Japan’s largest automaker, to announce its first net operating loss in their 71 years business history. The Japan Automobile Manufacturers Association already has said it is the largest decline in over 40 years history, when records were taken first time.
On the other hand, Hyundai Motors and Kia, top two carmakers of South Korea, have slashed sales forecasts, as well, by 12% due to the worldwide recession. The Indian automobile industry is responding to drop in auto sales by cutting shifts at its auto factories. So, it is very much apparent that all international car companies are survived with the recent world economic crisis and bound to cut their production.
