Auto Production Down Sharply in Asia
SOUTHEAST ASIA REPORT: VIETNAM, THAILAND, MALAYSIA
At the end of September, an auto parts manufacturer operating a plant near the southern Vietnamese city of Ho Chi Minh is struggling with a sharp drop in orders. The parts produced at this plant are delivered to Toyota group companies.
On Sept. 10, Toyota revised downward its production plan for the same month and October, adding about 70,000 units to the originally planned production cut of about 360,000 units in September, and cutting production by about 330,000 units in October.
The company also announced that it would revise its full-year production plan from 9.3 million units to 9 million units. Parts suppliers in Vietnam were affected by this. It was around the same time that Toyota announced its production cutbacks that the manufacturer mentioned above was told by its business partner that it wanted to significantly reduce orders for October.