Toyota to cut global production plan by 100,000 in June
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
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
Singaporeans can now buy record amount of yen per Singdollar
Beijing’s calculated silence on the Iran war
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
StarHub hands Ensign InfoSecurity control back to Temasek in S$115 million deal, books S$200 million gain
