WASHINGTON (Pakistan Point News / Sputnik - 09th April, 2020) The global vehicle manufacturer Toyota said in a press release that it has extended the closures of its production facilities in North America until early May amid plunging demand for new cars and trucks due to the novel coronavirus (COVID-19) pandemic.
"Due to the ongoing COVID-19 pandemic and decline in vehicle demand, Toyota is further extending the length of its production suspension at all of its automobile and components plants in North America, including Canada, Mexico and the United States. The manufacturing facilities will remain closed through May 1, resuming production on May 4," the release said on Wednesday.
Toyota said the decision to extend the closure period will add two weeks to the time frame previously announced as part of the wave of auto factory shutdowns detailed in near daily reports in the automotive press.
Ford, General Motors and Fiat-Chrysler shut down all North American production facilities in March. However, Ford and General Motors are yet to say when they expect to resume operations, while Fiat-Chrysler said it hopes to restart its assembly lines on April 4.
While the $2 trillion US government relief package does not specifically target the automobile industry, the law includes $500 billion in loans, loan guarantees and support for hard hit industries while also making unemployment insurance and other benefits available to auto workers.