Jun 29 2020
Toyota Promises to Remain Profitable as Pandemic Hits Auto Industry
The largest Japanese automaker will not change its plan to produce 3 million cars a year in the country, according to Mitsuru Kawai, director of human resources at Toyota. The company shut down some national factories from April to June. Toyota has warned that profits will drop 80% to a nine-year low and specific operating profit of 500 billion yen ($ 4.7 billion) for the year through March. The goal is not a plan, but a minimum standard that must be met said, Toyoda.