REPORT: Toyota puts hold on Russia, Thailand plant plans

Filed under: Plants/Manufacturing, Toyota, Earnings/Financials

Just because Toyota is still spending on Formula 1 and the Lexus LF-A doesn't mean its not cinching up the fiscal belts -- scaling back at the Detroit Auto Show, killing Australia's TRD division, and delaying a highly anticipated sports car. And now you can add stopping construction on new factories to that list.

Toyota has a Camry assembly plant in St. Petersburg, Russia where it expected to build 20,000 cars in its first year. The plant didn't make its quota, so a proposed expansion of the facility to begin in 2010 has been put on hold.

In Thailand, Toyota intended to build a diesel engine plant this summer. The $155 million factory would have gone online in 2010 and made powerplants for Toyota pickups. That plan has also been scrapped for the time being.

[Source:Bloomberg]

REPORT: Toyota puts hold on Russia, Thailand plant plans originally appeared on Autoblog on Mon, 05 Jan 2009 07:28:00 EST. Please see our terms for use of feeds.

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