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.
Toyota Motor Corp.
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.
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 Industry
Badger State Dealership Gets New Owner
The longtime southern Wisconsin store moved from one area auto group to another, keeping the business in Dairyland.
Read More →
The Cycle of Negative Equity
Third-quarter data shows consumers still rolling over debt and stretching loan terms, raising their risk of remaining underwater.
Read More →
Charger Network Growth Slows
Despite a projected increase in public EV chargers in 2026, charging infrastructure remains a top concern for consumers as the gap between the most and least EV-friendly places remains substantial.
Read More →
Lenders, Consumers Take on More Auto Loan Risk
September records loosened credit access the most in over a decade as buyers took advantage of the conditions to afford trading, though loan applications fell.
Read More →
Next-Gen Hybrids in Sight
Dealerships can expect to see revamped hybrids from Honda next year as the company rolls out a new system and model lineup.
Read More →
Gem State Stores Change Hands
A larger auto group founded in the industry’s early years sold two franchises to a neighbor group that's on a growth spurt.
Read More →
Charging In Motion
Honda has been researching wireless in-motion charging for electric vehicles since 2025, and new technology developments have put it a step closer to a final product.
Read More →
Twin Cities Stores Sell
Minnesota-based Walser Automotive Group made what it called the most significant acquisition in its history with a three-rooftop deal in Minneapolis.
Read More →
U.S. Auto Sales Still Below Prepandemic Levels
Mobility Global industry observers don’t expect the market to return to the higher volumes that became routine before Covid but to stay well below its potential.
Read More →
The Powertrain Shift
Electric-vehicle owners are backpedaling, according to new data, with product availability driving many to shift back to gas-powered engines.
Read More →