Keeping tab of changing economic times and various other issues confronting the automobile industry, Japanese car giant Toyota has come up with a band new model, namely the Avensis. Speaking on the sidelines of its release at a glittering ceremony, Toyota UK corporate affairs director Clive Bridge said that the current economic situation is the most opportune time to come up with a new model, and also stressed that the model in question is one of the company’s better products and should go down well with the discerning public.
It is important to note here that the this new model has come barely two months after the company has abruptly suspended the production of the night shift making the Auris, albeit temporarily. The production of the model is scheduled to take off again from March, 2009. Meanwhile, the workers working at the unit have been redeployed on community projects.
Toyota seeks to employ more than 4000 people for the production of this third generation Avensis, to be built at Burnaston, Derbyshire.
The company has a lot at stake with the launch of the new model as it by its own admission for the last few months has been going through tough times. Its quarterly profits were far from satisfactory forcing it to redraw its earning forecast for the current fiscal year. Most notably, it took a pounding in the three months leading to September as its net profits shrunk by a dreaded 69%, which was a clear case of economic slowdown in the US influencing customer spending.
Mr. Bridge however, exuded confidence that the model would do well and appeared to be pretty upbeat considering the warm reception it garnered at the recently concluded Paris Motor Show. The years of toil and sacrifices made by the workers to develop the advanced model fully stocked with extras, like high-powered car speakers, will bear fruit, he hoped.
Tags for this article: economy, paris motor show, recession, toyota