Toyota eyes 40% cut in global output amid chip crunch in Sept.

Economy

Toyota Motor Corp. said Thursday it expects global output in September to fall by 360,000 units, or some 40 percent from its initial plan, to about 540,000 vehicles due to a global chip crunch and the spread of COVID-19 in Southeast Asia. The major automaker unveiled plans to suspend 27 production lines at 14 plants in Japan for up to 22 days by the end of September. Despite the production cuts, Toyota will keep its production target of 9.3 million vehicles for fiscal 2021 through next March. Automakers have production bases in Southeast Asian nations such as Thailand and Vietnam. Toyota said ...

Kyodo News

Kyodo News