June 9, 2023

Toyota halts more pProduction in Japan as parts run out

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From Newsmax

OAKLAND, CALIFORNIA – FEBRUARY 06: The Toyota logo is displayed at One Toyota of Oakland on February 06, 2019 in Oakland, California. Toyota reported a $12.6 billion loss in third quarter profits even though sales of popular vehicles like the Camry were slightly up. (Photo by Justin Sullivan/Getty Images)

Toyota Motor Co. on Friday expanded production stoppages at some factories in Japan because of a shortage of components shipped from parts plants in Southeast Asia.

The latest halts will cut car output by 9,000 vehicles when added to curbs announced on Thursday, affecting production of Lexus models and its four-wheel-drive Land Cruiser, Toyota said in a press release.

Although limited, the cuts come as Toyota tries to make up for production lost to earlier supply-chain disruptions in Malaysia and Vietnam that forced it to trim vehicle output even as demand for cars in markets such as China rebounded as coronavirus lockdowns ended.

The world’s biggest car producer by volume said it is sticking to an annual production target set in September to build 9 million vehicles by the end of March.

“We would like to maintain 9 million units, but we will keep a close eye on the situation,” a Toyota spokesperson said.

© 2021 Thomson/Reuters. All rights reserved.

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