Toyota will reduce its worldwide production by 100,000 by June

Toyota will reduce its worldwide production by 100,000 by JuneToyota will reduce its worldwide production by 100,000 by June

TOKYO Tokyo, 24 May (Reuters) TOKYO, Toyota Motor Corp (7203.T) will cut its global production schedule by 100,000 to around 850,000 cars in the month of June because of the shortage of semiconductors, it announced on Tuesday.

The company didn’t alter its forecast of producing around 9.7 million vehicles globally in March 2023.

Automaker has also issued an additional factory line suspensions in the US due to a supply shortage caused by the COVID-19 lockdown in Shanghai.

Toyota will reduce its worldwide production by 100,000 by June
Toyota will reduce its worldwide production by 100,000 by June

 The suspension is at least five days in duration between June 3 and Wednesday and will affect 16 lines across 10 factories in May and June.

It’s planning to build approximately 850,000 vehicles across the world every month in the average of June to August, it added that chip shortages and COVID-19-related outbreaks, among other things “are making it difficult to look ahead.”

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