TOKYO (Bernama-Sputnik/RIA Novosti): Japanese automaker Toyota will cut global vehicle production by 38,000 units through November due to the Middle East crisis, reported Sputnik/RIA Novosti quoting a Kyodo news agency report.
The measure will primarily affect trucks produced in Asia for the West Asia market, the report said on Monday.
In March, Japanese media reported that Toyota would cut vehicle production for the West Asia market by 24,000 units in April due to the conflict. In March, the automaker reduced the production by 20,000 vehicles.
On February 28, the United States and Israel launched strikes on targets in Iran, causing damage and civilian casualties. On April 7, Washington and Tehran announced a two-week ceasefire. Subsequent talks in Islamabad ended inconclusively.
On April 13, the US Navy began blockading all maritime traffic entering and exiting Iranian ports on both sides of the Strait of Hormuz, which accounts for approximately 20 per cent of the world's oil, petroleum products, and LNG supplies.
Washington maintains that non-Iranian vessels are free to transit the Strait of Hormuz as long as they do not pay Tehran a toll. Iranian authorities have not announced the imposition of a toll, but have discussed such plans.
--BERNAMA-SPUTNIK/RIA NOVOSTI
