Toyota to produce 800,000 vehicles in October, weighed by chip

Toyota to produce 800,000 vehicles in October, weighed by chip
Toyota Motor Corp, the famous Japanese automaker, has recently announced that it plans to produce only around 800,000 vehicles globally next month (October 2022).

In its latest report, Toyota has decided to cut production by about 1 lakh vehicles from the average monthly output reported earlier as the pandemic-induced semiconductor shortage is yet to be resolved.

Modern cars depend heavily on software and advanced technologies. Microchips or semiconductors act as the brains of these cars.

Microchips control a wide range of functions in modern cars, from safety systems to infotainment, from powertrains to fuel economy. A severe shortage of chips has severely affected automobile production worldwide.

Even as the pandemic subsided and the situation gradually normalized, when car companies restarted their production in full swing, chip makers could not cope with the demand. Still this situation persists.

Earlier in August, Toyota had announced that it is targeting to produce an average of 9 lakh units of vehicles per month during the period from September to November (3 months).

But with this latest announcement, Toyota Motor Corp has made it clear that there will be no production of 1 lakh vehicles in October from the already planned production of 9 lakh units.

Toyota plans to suspend production of 10 lines at 7 domestic plants for about 12 days as it abandons its decision to produce around 1 lakh units next month. Toyota, the world’s largest automobile manufacturer,

Despite a contraction in October’s vehicle production plan, the company is determined to meet the global vehicle production target of 9.7 million vehicles in the current fiscal year to March 2023. Toyota said in a recent report that it expects to produce an average of around 850,000 vehicles per month from October-December.

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Toyota isn’t the only one affected by the semiconductor shortage. Countless auto manufacturers in various parts of the world are in trouble.

Notably, the chip shortage has forced many automakers to temporarily shut down their manufacturing plants for a few months.

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