Toyota Motor Corp announced plans to cut global production by about 100,000 to roughly 850,000 vehicles in June due to the semiconductor shortage.
Still, the company forecasts it will produce about 9.7 million vehicles worldwide by March 2023.
Toyota Announces Plans to Cut Global Production Amid Chip Shortage
Toyota Motor Corp will cut global production by about 100,000 to roughly 850,000 vehicles in June due to the semiconductor shortage.
May 25, 2022
Credit:
Toyota Motor Corp.
1 min to read
The automaker also announced an additional domestic factory line suspension over supply shortages because of the COVID-19 lockdown in Shanghai. The additional suspension, affecting 16 lines at 10 factories, will last up to five days between May 25 and June 3.
Toyota will produce about 850,000 vehicles a month globally from June through August, though the company reports adding chips shortage and COVID-19 outbreaks and other factors "are making it difficult to look ahead."
Originally posted on Auto Dealer Today
More Dealer Ops
Franchises, Throughput Down in First Half
A handful of states see franchise growth through June, while EV sales per store boost overall business in U.S.
Read More →
Buy-Sells Up in Q2
Kerrigan metrics show there’s plenty of demand, though many sellers are waiting to pull the trigger.
Read More →
DOWC Powers the Future of F&I for NESNA
Company is providing a fully integrated F&I administration model to Nissan Extended Services North America’s dealer network.
Read More →
March New-Vehicle Sales Healthy
Despite incentive spending not keeping pace with deliveries volume, consumers make their purchases ahead of tariffs impact.
Read More →
New DOWC Program Debuts
Hybrid solution combines benefits of reinsurance and dealer-owned warranty companies.
Read More →
Dealer Survey Finds Anxieties
Kerrigan Advisors poll shows percentage of retailers expecting lower profits, valuations is on the rise.
Read More →
Calif. Dealer Group Challenges Scout Direct Sales
Says VW unit’s plans to sell directly to consumers violate state law.
Read More →
Six Powerful Questions
Take the time to answer these and lay the groundwork for a successful year-end.
Read More →
Autumn Analysis
Consider taking the change of the seasons as a cue to evaluate some key operational aspects of the dealership.
Read More →
Maximizing Revenue Potential
The strategic imperative for auto dealers is to prioritize F&I product sales and wealth-building in challenging times.
Read More →