Toyota cuts production forecast amid chip shortageBloombergToyota Motor Corp trimmed its production outlook by about 3 percent to 9 million units from 9.3 million for the fiscal year ending March, blaming the spread of COVID-19 in Southeast Asia. 1 automaker is adjusting production this month and reviewing plans for next month, while sticking to its forecast for operating profit of ￥2.5 trillion (US$22.7 billion) for this fiscal year. Toyota last month warned of cuts due to the semiconductor and parts shortages as manufacturers were hit by COVID-19. Still, the move shows how even Toyota, having weathered the shortages well compared with peers, is vulnerable to the same constraints hurting the industry. “The spread of COVID-19 infections remains unpredictable, making it difficult to maintain operations due to lockdowns at various locations, and we are working to transfer production to other regions,” Toyota said.

Source: Taipei Times September 10, 2021 15:56 UTC