Sumary of Toyota to cut production 40% in October because of the chip shortage.:
- Toyota Motor said on Friday that it will make about 40 percent fewer cars and trucks around the world in October as a result of complications from a shortage of computer chips and Covid-19 restrictions affecting the production of parts in Southeast Asia.
- “Key reasons for the production adjustment include a decline in operations at several local suppliers due to the prolonged spread of Covid-19 in Southeast Asia and the impact of tighter semiconductor supplies,” the automaker said.
- “Although our plants and suppliers are taking thorough quarantine and vaccination measures in response to the pandemic in Southeast Asia, the spread of Covid-19 infections remains unpredictable, making it difficult to maintain operations due to lockdowns at various locations.
- ”For the fiscal year ending March 31, Toyota now expects to produce nine million cars and trucks, down from an earlier estimate of 9.3 million.