YORK TOWNSHIP, Mich. (AP) -- Toyota Motor Corp.'s top U.S. sales executive says the company won't make more production cuts despite a sales slump that may not end until after next year.
Jim Lentz, president of Toyota Motor Sales USA, said Thursday that the company's car inventories are around the optimal 45-day supply. Truck inventories are a little high, but Lentz says he expects that to fall in line by the end of the year.
In August, Toyota furloughed workers at its Tundra pickup truck plant in Texas due to slow sales. Lentz says they will return to work as scheduled in November.
Toyota posted a 32 percent drop in U.S. sales in September as monthly sales industrywide fell below 1 million for the first time in 15 years.