Toyota Motor Corporation said it has cut its production plan by “tens of thousands of units” globally from the number provided to its suppliers at the beginning of 2021.
In a statement on its website, the company said: We at Toyota would like to again apologise for the repeated adjustments to our production plans due to the parts shortage resulting from the spread of COVID-19, and for causing considerable inconvenience to our customers, suppliers, and other parties concerned.
The global production plan for June 2022 is approximately 850,000 units (250,000 units in Japan and 600,000 units overseas). The average global production plan from June through August is around 850,000 units, and 9.7 million units for the full period of fiscal year 2023.
The shortage of semiconductors, spread of COVID-19 and other factors are making it difficult to look ahead, but “we will continue to make every effort possible to deliver as many vehicles to our customers at the earliest date”, the company said.
The company said that due to parts supply shortages caused by the lockdown in Shanghai, “we have decided to suspend operations in May and in June”.
Toyota’s earnings may fall in 2023 due to high material costs
Toyota Group to invest Rs 4,800 crore in green technologies