Due to slump in passenger car sales, Toyota Kirloskar Motor has revealed that it is searching the options to trim down its production by 30 percent in the month of December.

According to sources, Toyota has a facility to generate over 5,000 units a month at its plant situated near Bangalore.

In a move to boost demand and tame worldwide crisis, government of the country on December 7, cut down Central VAT (Cenvat) by 4%.

The government also revealed that Rs 200 billion additional non-plan expenditure as part of package to spur the economy. The package targets power exports, housing, auto, small and medium industries and infrastructure sectors through additional funding and guarantees.