Toyota to cut global production plan by 100,000 in June
Add BT as a preferred source
TOYOTA Motor 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 (May 24).
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 5 days between Wednesday and Jun 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". REUTERS
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Share with us your feedback on BT's products and services
TRENDING NOW
The S$1 million National Day paradox: ‘money dysmorphia’ amid a wealth surge
Singapore at 61: How we can ensure opportunity, security and ownership for the next generation
Why Asean matters more than ever to the UK and Singapore
Too little, too late? Manila’s billion-dollar bid to ignite its sputtering EV industry
