Semiconductor shortage: Toyota to cut global production plan by 100,000 in June
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.
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."
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
SBI 444-day FD vs PNB 400-day FD: Here's what general and senior citizens will get in maturity on Rs 3.5 lakh and 7 lakh investments in special FDs?
Small SIP, Big Impact: Rs 1,111 monthly SIP for 40 years, Rs 11,111 for 20 years or Rs 22,222 for 10 years, which do you think works best?
08:27 AM IST