Toyota Output to Fall Short in October
Toyota Motor Corp. announced plans to produce 800,000 vehicles worldwide in October, 100,000 vehicles short of its average monthly production plan.

Toyota Motor Corp. announced plans to produce 800,000 vehicles worldwide in October, 100,000 vehicles short of its average monthly production plan.
IMAGE: Toyota
Toyota Motor Corp. has announced plans to produce around 800,000 vehicles worldwide in October. This number falls 100,000 vehicles short of its average monthly production plan because of ongoing semiconductor chip shortages.
The reduction in output could be seen as a worrisome sign that the chip shortage will continue to crimp production for the Japanese automaker.
However, Toyota has not adjusted its global vehicle production target for the current financial year, instead sticking to a forecast of a record 9.7 million units.
Toyota reported in August that it aimed to produce about 900,000 vehicles per month on average from September through November.
The company has now announced that it plans to produce about 850,000 vehicles per month on average from October to December.
According to the automaker’s October production plan, Toyota will suspend production for up to 12 days for 10 lines at seven domestic factories.
Toyota produced 627,452 vehicles worldwide in October 2021, when the pandemic disrupted supply parts in Southeast Asia.
Japanese automakers previously suggested that the chip shortage is easing, but it is unclear when it will be resolved.
Despite an expectation that the shortage would correct itself after the second quarter, a rise in electrified vehicles and cars equipped with advanced driver-assistance systems that require more semiconductors per vehicle may extend it, Morgan Stanley MUFG Securities Co. said in a report.
Toyota's rival, Honda Motor Co., announced plans to reduce car output by up to 40% at two Japanese plants in early October due to ongoing supply chain and logistical issues, including the chip shortage.
Originally posted on Auto Dealer Today
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