Toyota to restart global production for first time since February
For the first time since February, Toyota Motor Corp. will restart automobile production in all of its manufacturing plants around the world, a source with knowledge of the matter said Sunday.
According to the source, Toyota’s factory in Venezuela, the last one where output had been suspended due to the coronavirus pandemic, is expected to reboot operations on Monday.
Besides Venezuela, where only 416 vehicles were produced by the Japanese automaker in 2019, output has already restarted in stages throughout 20 other countries where it has plants, while not yet returning to pre-coronavirus levels.
Toyota, which last year manufactured around 5.63 million vehicles overseas, forecasts that global demand for automobiles will be on a recovery trend and plans to increase output gradually.
Toyota’s overseas production tumbled 66.2 per cent in April from a year ago, but the company saw a fall of 53 per cent in the following month.
As for the volume of domestic production in July, Toyota anticipated last month that it would be down 10 per cent from its initial projection.
According to the automaker, the rate compares with a drop of about 40 per cent in June.