On August 19, Toyota Motor Corporation said that it would reduce its production by 40% in September, resulting in a production decline of 360,000 units to 440,000 units for the month. Of the production cuts, approximately 140,000 units will be cut in Japan, 80,000 in the U.S., 80,000 in China, 40,000 in Europe, and 18,000 in other regions. Despite the reduced production, Toyota will maintain its annual production forecast of 9.3 million vehicles.
The reduced production will affect models including the Toyota Corolla, Prius and Land Cruiser. The semiconductor chip shortage affected Toyota less compared to other automakers due to its larger stock. However, the recent surge of the coronavirus in Southeast Asia combined with the existing chip shortage led to the production cut.
(Detroit News article on August 19, 2021)
Keyword: plant operating status