Lower profit: A customer looking at trucks at a Toyota dealer in California. Toyota forecast operating profit of US$4.66bil for the year through March 2021. — AP
TOKYO: Toyota Motor Corp said it expected profit to drop 80% to its lowest in nine years, as Japan’s biggest automaker grapples with the impact of the novel coronavirus which has sapped global demand for vehicles.
The forecast came a day after Reuters reported, citing a source, that Toyota planned to slash production in North America by nearly a third through October due to government measures aimed at containing the pandemic.
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