Toyota Motor to produce 800K vehicles in October
TM -2.24%Sep. 22, 2022 5:42 AM ET- Toyota Motor (NYSE:TM) announced plans to produce about 800K vehicles worldwide in October - Reuters.
- This is about 100,000 short of company's average monthly production plan, due to semiconductor shortages.
- Last month, the company said it aimed to produce 900K vehicles from September through November.
- However, the company now expects to produce about 850,000 vehicles per month on average from October to December weighed by chips shortages.
- The company will suspend production for up to 12 days for 10 lines at seven domestic factories in October.
- Earlier this month, the company stated that it will suspend production on three lines at its Motomachi plant in central Japan for some days in September.
- The company is still aiming for 9.7M global vehicle production target for current financial year through March 2023.