Toyota Cuts Production Due To Semiconductor Shortages

Toyota Motor Corp. (TYT.L,TM) said it cut production plan by tens of thousands of units globally, due to the impact of semiconductor shortages. The global production plan for June is about 850,000 units, of which 250,000 units in Japan and 600,000 units overseas.

The average global production plan from June through August is about 850,000 units, and 9.7 million units for the full period of fiscal year 2023. The shortage of semiconductors, spread of COVID-19 and other factors are making it difficult to look ahead, the company said in a statement.

In addition, the Japanese automotive major announced additional domestic factory line suspension due to supply shortage caused by COVID-19 lockdown in Shanghai. The additional suspension will be up to five days between May 25 and June 3, affecting 16 lines in 10 plants for May and June.

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