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Stock impact report

Japanese auto groups to create fund to survive virus pandemic [MSN Money]

Toyota Motor Corporation (TM) 
US:NYSE Investor Relations: toyota-global.com/investors
Company Research Source: MSN Money
(Bloomberg) -- Toyota Motor Corp. Pridt Akio Toyoda said Japan’s auto industry is banding together to avoid “fatal injury” as the coronavirus pandemic slams demand for cars and stymi production.© BloombergToyoda, speaking as chairman of the Japan Automobile Manufacturers Association, said the industry is considering creating a fund carmakers can use to help retain technology and workers after lockdowns and global rtrictions on travel and movemts have choked off economic activity.“Japan’s auto industry needs to avoid fatal injury and to avoid using up extra ergy now,” Toyoda said in an online prs briefing Friday. Losing stial technologi and skilled workers could kill the industry, he said.The industry will need “a substantial amount of money” to create the fund, but its size is undecided, Toyoda said.Automakers around the world have be laying off some workers as car buyers delay purchas and some production lin grind to a halt.Japan’s vehicle makers are also contributing to efforts to s Show less Read more
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