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Monday July 14, 2008
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Toyota announced that it would start building its Prius hybrid in the United States in 2010, Reuters reports, while suspending production of slow-selling big trucks for three months to clear inventory—marking a sharp reversal of strategy forced by slumping sales and high gas prices. While Toyota and Honda are leaders in building efficient vehicles, they also build plenty of gas-guzzling, high-profit trucks and SUVs, so this actually comes as no surprise.
The report said that Toyota, which is facing shortages of its fuel-efficient small cars in recent months, will start building the Prius at a new Mississippi plant, one that was originally scheduled to produce the Highlander sport utility vehicle. It will also temporarily suspend Sequoia and Tundra production for three months.
"The unusual and costly moves by Toyota, now the global auto sales leader, underscored the pressure across the industry as major automakers scuttle truck production and take steps to ramp up output of passenger cars to keep up with a dramatic shift in U.S. buying patterns," the article said.
Posted By:
Jamie Lendino
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