Toyota Plans Additional Production Cuts In July

by Shivani Kumaresan, Benzinga Staff Writer

July 27, 2022 2:14 PM | 1 min read |

Toyota Motor Corp TM has decided to cut domestic production by 4,000 vehicles in July.
The company took the decision due to the difficulty of procuring parts from a supplier caused by heavy rain damage, mainly in Aichi Prefecture.
Related: Toyota Cuts July Production Citing Parts Shortage
The company also warned that the production plan might be lower as the scenario remained difficult due to semiconductor shortages and the spread of COVID-19.
The auto major had recently halted orders for its SUV, Harrier, citing production hurdles.
Price Action: TM shares are trading higher by 0.50% at $158.85 on the last check Wednesday.
Photo Via Wikimedia Commons

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