Toyota To Halt Operations Of Six Plants In Japan, To Operate Only Five Days In December

The company had stated that higher taxation was pushing the prices upwards and customers were finding it difficult to buy Toyota products in India.

Edited By: Raghav Aggarwal

Published: December 20, 2021, 10:50 AM IST

https://www.india.com/business/toyota-to-halt-operations-of-six-plants-in-japan-to-operate-only-five-days-in-december-5146552/

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New Delhi: Due to difficulties in procuring auto parts from Southeast Asia, Toyota Motor Corp. has decided to reduce its domestic vehicle production in December. According to a report by thejapannews, the company will halt the operations of six of its plants in Japan. The production will only take place for five days in December.

The report further stated that this will impact the production of around 22,000 units of vehicles produced by the company. Earlier too, the company had halted the production in four of its plants in Japan.

In India, however, the company had decided to not invest further, in September 2020. According to a report by Bloomberg, the company stated that higher taxation was pushing the prices upwards and customers were finding it difficult to buy Toyota products in India. This further drives the unemployment rates upwards. The company had also decided to raise the prices of its models from January 1, 2022.

The share of Toyota in the Indian market has also dropped, according to a report by Financial Express. The market share of the company fell from 5 per cent in 2019, to 2.6 per cent. The report further said that due to the transition from BS4 to BS6, Toyota had to let go of its models like Etios, Etios Liva and Corolla Altis.