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[Ferro-Alloys.com] Japanese carmaker Toyota Motor has projected that its global car sales will fall by 22pc from a year earlier to 7mn units during the April 2020-March 2021 fiscal year on expectations that the global car market will bottom out during April-June.
Toyota is among the global carmakers that have been forced to reduce car output in response to a worldwide slowdown in car sales triggered by the Covid-19 pandemic. The company has resorted to cutting output at its domestic assembly plants for the first time since April.
The global car market hit a bottom in April, chief financial officer Kenta Kon said. Toyota expects the market to return to 2019-20 levels, before the Covid-19 pandemic, sometime between the end of 2020 and the first half of 2021, he said.
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- [Editor:kangmingfei]
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