Cars and Drivers
Toyota (TM) Increases Car Production Plans For 2010, Another Sign Industry Has Bottomed
Published:
Last Updated:
The last two years were probably the worst in the history of the global car industry which goes back over a century. The markets in the US, Japan, EU, and UK were all eroded by lack of consumer credit and high unemployment. Chrysler and GM went bankrupt. Layoffs throughout the sector went into the hundreds of thousands. Brands, including Pontiac and Saturn, were closed.
The only notable bright spot for the period was China, where car sales nearly doubled year-over-previous year in 2009.
It should bring some relief to the world’s largest vehicle manufacturers that Toyota (NYSE:TM) will increase it production to 7.5 million cars and light trucks in 2010. Reuters reports the figure is about one million units below 2007. It is, however, a significant improvement over 2008 and 2009.
Car sales in the US, Japan, and Europe may never return to the highs that they hit five years ago, but the industry’s radical downsizing is over.
Douglas A. McIntyre
Take This Retirement Quiz To Get Matched With A Financial Advisor (Sponsored)
Take the quiz below to get matched with a financial advisor today.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the
advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Take the retirement quiz right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
