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Friday, 15 October 2021 16:27

Toyota Cuts November Output but Sticks to Full-Year Goal

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Toyota Motor Corp. on Oct. 15 cut its planned global output for November by as much as 15% due to ongoing chip shortages, but indicated it would ramp up production from December by sticking to its latest full-year production target.

Japan's leading carmaker said in a press release it would produce between 100,000 and 150,000 fewer vehicles in November than it had planned for a month that was meant see a rebound in lost output.

 

That reduction comes after cuts in September and October as supplies of components from factories in Malaysia and Vietnam slowed because of increased COVID-19 infections there, forcing Toyota to trim its production target for the year to March 31 by 300,000 vehicles to 9 million.

 

To read more, see Reuters.

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