Toyota is planning on a massive cut to its production, reducing production in June by 100,000 vehicles as a result of the semiconductor shortage.
The semiconductor shortage has impacted industries around the world since the early days of the pandemic. The auto industry has been particularly hard hit, with many automakers resorting to shipping vehicles without their full suite of electronics.
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According to Reuters, Toyota is now forced to reduce its June production by 100,000, bringing the total number of vehicles slated for June to 850,000. The recent COVID-19 lockdown in Shanghai has also impacted the company, causing additional supply issues.
This isn’t the first time Toyota has had to cut production as a result of supply chain issues. In September 2021, the company had to cut production by 40%.
Interestingly, the company has not altered its plan to produce 9.7 million vehicles globally by March 2023.