Toyota announced that it will put a hold on production in all 12 of its Japanese plants for 11 days over February and March.
The last time Toyota suspended production in all of its Japanese plants was in 1993 and that stoppage only lasted a day. This time the company will stop output for six days in February and five days in March.
Four of the factories produce vehicles while the other eight make engines and car parts.
This announcement follows Toyota's year-end sales figures of 2,217,662 vehicles, down 15.7 percent from the same period in 2007, on a daily selling rate basis.
"Our New Year's resolution is to shift the focus back to where it belongs, to the consumer," said Toyota Motor Sales President Jim Lentz. The company expects $555 million (50 billion yen) in net profit. That number is down substantially from 1.7 trillion yen earned the previous year.
Source: The Detroit News