Toyota Cuts October Production As Supply Chain Woes Continue

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  • Toyota Motor Corp TM plans to produce about 800,000 vehicles in October, about 100,000 vehicles short of the previously announced production estimate.
  • The company attributed the decision to the impact of semiconductor shortages resulting from the spread of COVID-19.
  • Toyota had previously estimated an average monthly vehicle production of 900,000 units for three months (September through November).
  • The global production plan for October through December is planned to average approximately 850,000 units per month.
  • Also ReadTSMC Chief Blames Low-End Chips For Hindering Supply Chain
  • However, the company has not changed the financial year forecast of 9.7 million units.
  • The latest cut is seen as a worrisome sign as the auto giant continues to reel under shortage in the key vehicle component and wider supply chain disruptions.
  • Price Action: TM shares are trading higher by 0.31% at $138.00 in premarket on the last check Thursday.
  • Photo Via Wikimedia Commons
Posted In: NewsGeneralBriefs
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