Toyota Eyes 2% Cut to 2012 Production Plan

Toyota Motor Corp. is considering reducing its 2012 global output plan by about 200,000 vehicles because of plunging sales in China, Mid-Japan Economist reports.

The newspaper, which doesn't cite its sources, says that under the new plan, Toyota would fall short of its goal of surpassing 10 million units this year, including its Daihatsu and Hino brands. The company would still likely top its previous record output of 9.49 million vehicles in 2007.

In early August, with strong North American demand offsetting the slump in Europe, Toyota hiked its outlook to 10.05 million units. Soon after, a dispute between China and Japan about the control of an island chain in the East China Sea caused Chinese consumers to shun Japanese brands.

In September Toyota sales in China plummeted 49% to 44,100 vehicles. The company has cut production there by an undisclosed amount and reduced output in Japan of China-bound Lexus vehicles.