Toyota to cut production in Japan in May as coronavirus squeezes demand

FILE PHOTO: The logo of Toyota is seen on a car during the Prague Autoshow

TOKYO (Reuters) – Toyota Motor Corp <7203.T> on Wednesday said it will cut production of finished vehicles by 40 percent in Japan in May as demand shrinks around the world because of the coronavirus pandemic.

The measures, which will cut production to 79,000 vehicles for the month, include suspending production on some days and reducing shifts form two to one at some plants, the company said in a press release.

(Reporting by Tim Kelly; Editing by Kirsten Donovan)