(RTTNews) - Automaker Toyota Motor Corp.(TM: News ) Friday reported a 0.8% year-on-year drop in its worldwide production for October. Production in Japan dropped 12.1% in the month and overseas production increased 11.9% in October.

The company's worldwide production for October slipped 0.8% to 785,615 units. Toyota's production totaled 709,904, up 1.4% from last year. In the Daihatsu Motor Co., Ltd. subsidiary, production in October declined 17.8% to 68,307 units and in Hino Motors, Ltd. unit, production declined 15.3% to 7,404 vehicles.

Production in Japan, which includes production at its units Daihatsu and Hino, dropped 12.1% to 370,117 units. Passenger car production decreased 9.9% to 326,872 units, while Trucks & Buses produced in the month stood at 43,245 units, down 25.4% from last year. Overseas production increased 11.9% to 415,498 vehicles.

Total sales in Japan in October amounted to 189,524 vehicles, up 6.7% from last year. Passenger car sales grew 10.9% to 167,975 units, while sales of Trucks & Buses dropped 17.9% to 21,549 units.
The company's exports dropped 31.2% to 165,451 units, compared to the same month last year. Passenger car sales declined 33.2% to 142,333 units and sales of Trucks & Buses dropped 15.8% to 23,118 units.

Meanwhile, reports said Toyota plans to slash winter bonus payments for 8,700 managers in Japan by 20%. Major companies in Japan pay their employees bonuses twice every year, depending on the company's performance.

TM closed Wednesday's regular trade at $77.86, up $1.81 or 2.38%, on 321,432 shares.

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by RTT Staff Writer

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