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Personal Rant – You are All Wrong About Jobs, or the Lack of Jobs, Being the Reason People Do Not Live in NEO
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Nintendo's Mario endures even as games come and go
Production reduced in Indiana and Texas as part of industry trend
By Alan Ohnsman
Bloomberg News
Published on Thursday, Jun 19, 2008
Toyota said it's cutting U.S. production of Tundra pickups, the second such reduction in four months, as record gasoline prices and a weak economy erode demand for large trucks.
Tundra daily production at plants in San Antonio and Princeton, Ind., will be slowed, spokesman Mike Goss said, without providing details. Additionally, San Antonio's truck line will shut down for 14 days between now and the end of October, while the Princeton factory is cutting six production days between now and the end of August on a line that makes Tundras and Sequoia sport-utility vehicles, Goss said.
''The market is a tide that moves all boats. Toyota might have a better mooring, but it can't avoid what's happening in the full-size truck market,'' said Eric Noble, president of consulting firm Car Lab in Orange, California.
Higher gasoline prices, a sluggish economy and a decline in new home construction have contributed to a 22 percent drop so far this year in U.S. sales of large pickups such as Tundra, Ford's F-150 and General Motors' Chevrolet Silverado.
Tundra sales dropped 32 percent in May as buyers shifted to smaller, more fuel-efficient vehicles.
Similarly, sales of large SUVs such as Sequoia are down 32 percent through May, according to Autodata Corp.
There are no plans to consolidate all Tundra and Sequoia assembly at the San Antonio plant, Goss said.
Neither of the plants affected by the most recent reduction will lay off full-time assembly workers, Goss said. Jobs held by some 200 temporary employees in San Antonio will be eliminated.
The company's Huntsville, Ala., engine plant is also studying production cuts resulting from the reduced output of Tundras and Sequoias.
Sales of Ford's F-Series trucks, the top-selling pickups in the U.S., have fallen 19 percent through May. GM's Silverado is down 26 percent.
Toyota's U.S.-traded depositary receipts (which represent Toyota shares traded in Japan) have declined about 2.7 percent this year.
Toyota said it's cutting U.S. production of Tundra pickups, the second such reduction in four months, as record gasoline prices and a weak economy erode demand for large trucks.
Get the full article here.
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