Toyota delays to set 2nd plant in India

Toyota Motor Corporation plans to delay set up of new 2nd plant in india by almost a year. Also, Toyota plans to drop earlier plans to use the factory to build its Corolla varients. Earlier, Toyota planned to start a production of a plant by the begining of 2010 but the drop-off in local sales has prompted Toyota to delay the set up of plant till end of 2010. Company has also revised its capital investment in the light of slowing sales all over the world.

Toyota has also suspanded its work on its new plant in Mississippi, which was slated to produce its popular Prius hybrid car beginning in 2010. Slump in sales and sharp rise in yen led Toyota to forecast its first-ever annual operating loss in December.