Toyota Motor Corp., the world's biggest carmaker, aims to cut production capacity in Japan by about 20 percent within five years as it shifts output to other countries, particularly emerging markets.
The carmaker plans to reduce domestic capacity to about 3.2 million vehicles by 2015 from 3.9 million currently, company spokeswoman Ririko Takeuchi said today. The Mainichi newspaper reported the news earlier.
Factories in Japan will specialize in "new concept vehicles," cars with new technology and innovative low-cost production systems, Executive Vice President Atsushi Niimi said yesterday. Capital expenditures in Japan, which were once as high as 400 billion yen ($4.3 billion), will be 180 billion yen this fiscal year, or 33.7 billion yen more than last year, according to Senior Managing Director Takahiko Ijichi.
The company plans to shut down a line at its Takaoka plant in Toyota City, Japan, where it is based, from the current fiscal quarter through the second half of calendar year 2011. The move will reduce output by about 220,000 vehicles.
