Toyota to cut global production plan by 100,000 in June


FILE PHOTO: A car is pictured at the Toyota assembly plant in Zarate, on the outskirts of Buenos Aires, Argentina March 15, 2021. REUTERS/Agustin Marcarian/File Photo

TOKYO (Reuters) - Toyota Motor Corp will cut its global production plan by about 100,000 to roughly 850,000 vehicles in June due to the semiconductor shortage, it said on Tuesday.

The company did not change its estimate of producing about 9.7 million vehicles worldwide by March 2023.

The automaker also announced additional domestic factory line suspension due to supply shortage triggered by COVID-19 lockdown in Shanghai. The additional suspension will be up to five days between Wednesday and June 3, affecting 16 lines at 10 factories for May and June in total.

It is planning to produce about 850,000 vehicles globally a month on average from June through August, it said, adding chips shortage and COVID-19 outbreaks and other factors "are making it difficult to look ahead."

(Reporting by Satoshi Sugiyama; Editing by Tom Hogue and Christopher Cushing)

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

   

Next In Tech News

Online disinformation stokes tensions as Kenya elections near
Opinion: Do you unplug during vacations?
As China shuts out world, Internet access from abroad gets harder too
Keen to avoid losing money to scammers? Here’s what you can do
Jury finds US cable company must pay millions in damages after employee’s murder of female customer
Toshiba shareholders to endorse director nominees as buyout expectations grow
US school officials say cellphones play a big role in student fights. Can districts regulate phones?
Exclusive: Google hit with antitrust complaint by Danish job search rival
US abortion ruling discussions turn contentious inside tech giants
Prosus to trim Tencent stake as core headline earnings slump

Others Also Read