Toyota cuts FY 2021 global output outlook to 9 mil. units amid COVID

Economy

Toyota Motor Corp. on Friday slashed its global production outlook for the current fiscal year through March by about 300,000 units from its initial plan to around 9 million vehicles due to the spread of COVID-19 and a semiconductor crunch. Toyota has been forced to curb output as it has faced difficulties in securing parts as the pandemic has affected suppliers in Southeast Asia, coupled with the chip crunch due to robust demand. Toyota said the outlook from November remains "unclear" but maintained its current production plan, reflecting robust demand in its key markets like China and North ...

Kyodo News

Kyodo News