Toyota to cut global production plan by 100,000 units
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Despite its plan to cut global production, Toyota did not change its forecast of producing approximately 9.7 million vehicles globally by March 2023.
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A car is pictured at the Toyota assembly plant in, Argentina on March 15, 2021. (REUTERS)
In response to the global semiconductor shortage, Toyota Motor announced its decision to reduce its global production plan by 100,000 vehicles to approximately 850,000 vehicles in June.
The company did not change its forecast of producing approximately 9.7 million vehicles globally by March 2023.
The automaker also announced the suspension of additional domestic factory lines due to a supply shortage caused by the Covid-19 lockdown in Shanghai.
The additional suspension will last up to five days between May 25 and June 3, affecting 16 lines at 10 factories in total for the months of May and June.
The company plans to produce approximately 850,000 vehicles globally per month on average from June to August, adding that chip shortages, Covid-19 outbreaks, and other factors "are making it difficult to look ahead."
The world's top-selling carmaker revealed in January that it no longer expects to meet its annual production target with operations hampered by the global chip shortage.
