CORONAVIRUS: TOYOTA POSTPONES OPENING OF PLANTS IN CHINA

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Japanese carmaker Toyota decided on Friday to keep all of its factories in China suspended for another week due to the deadly coronavirus outbreak, it said. The closures of its 12 factories, including four vehicle plants, are expected to continue to sometime after Feb. 17, a Toyota spokeswoman told dpa.

Toyota had initially planned to resume its operations at the plants in early February after the Lunar New Year holiday. The carmaker decided last week to continue to suspend them until at least Feb. 10. Toyota produced about 1.4 million vehicles at the four plants for the Chinese markets in 2019, up to 6.6 per cent from the previous year. The carmaker sold 1.62 million units in China, up to nine per cent from the previous year, it said. On Thursday, Toyota revised up its operating profit outlook for the current financial year, ending March 31 to 2.5 trillion yen ($22.7 billion) from 2.4 trillion yen estimated three months ago.

 

SOURCE: VANGUARD NG

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