Toyota Motor Corp. says it plans to reduce management bonuses 10% for about 8,700 employees and will further cut production in Japan, Reuters reports.
The Japanese auto maker blames the moves on a worldwide downturn in vehicle sales.
Toyota will halt production on three Lexus assembly lines at its Tahara plant for two days at the end of December, resulting in about 5,000 fewer cars. The facility builds LS, GS and IS luxury models. The Miyata plant in southern Japan also will stop Lexus output for two days near Christmas.
The auto maker already has said it will cut production at both plants starting in January by eliminating night shifts.
Car sales in Japan, excluding minivehicles, reportedly dropped 27% in November, with Lexus sales down 24%.
The U.S. market’s luxury-car leader for eight straight years, Lexus saw deliveries fall 18.3% to 220,502 vehicles through October, Ward’s data shows.
