Following an explosion at a crucial supplier, Toyota is short of parts and have confirmed they will suspend production for a week starting from February 8th until things get back on track.
This has to be music to Volkswagen’s – once the world’s biggest automaker – ears.
Only production in Japan will be suspended, though, with overseas production remaining unaffected.
Toyota is due to publish its 9-month financial results at the end of this week, but has not commented on whether the temporary shutdown will damage results in the first quarter.
Toyota said in a statement: “Operations are scheduled to recommence on February 15th and vehicle production on lines outside Japan will not be suspended.
“Toyota will continue to take any measures necessary to minimise the impact of this incident on vehicle production.”
In an admirable bid to make ends meet, Toyota say they may scour the country for alternative production lines and steelmakers.
Whether this means there will be men in open-back vans shouting “rag and bone,” down megaphones as they prowl streets remains to be seen.
The explosion which caused the damage occurred on January 8th. The factory is not expected to resume full operations until March.
Toyota produces up to 14,000 units per day but will see that plummet to 0.
It was only in 2015 that Toyota took over Volkswagen to become the world’s best-selling automaker. Rumours that VW chiefs, who are slowly recovering from their own “setbacks”, were seen laughing over beers in a Wolfsburg bar are so far unconfirmed.
Despite the explosion, Toyota’s shares have actually risen to 7294, which represents a rise of 1.31%.
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