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Toyota extends production cuts

DETROIT | Toyota Motor Corp. has extended production cuts at its North American factories into early June as it struggles to deal with parts shortages caused by the earthquake that hit Japan.

The moves announced Tuesday raise the likelihood of widespread model shortages at Toyota dealerships well into the summer buying season. But the company promised no layoffs and said it would be ready when parts start flowing again.

Toyota said that production will be suspended in North America on Mondays and Fridays from April 26 through June 3. During the same period, plants will run at half-capacity on Tuesdays, Wednesdays and Thursdays.

In addition, U.S. production will be suspended the week of May 30 after the Memorial Day holiday.

From wire dispatches and staff reports