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Toyota to cut April global production 17% to 750,000 units

by WOOWinvest
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Toyota to cut April global production 17% to 750,000 units


Toyota Motor Corp said on Thursday it would slash its global vehicle production target by 150,000 to 750,000 units in April due to an ongoing semiconductor shortage and the impact of the COVID-19 pandemic on the automaker’s production plans.

It added that the global average monthly production for the April-June period was around 800,000 units.

Toyota’s global vehicle production will fall 10% in May and 5% in June, compared with previous estimates made earlier this year, a company executive said.

The announcement comes about a week after the company said it would cut domestic production by as much as 20% in April, May and June to ease pressure on suppliers struggling with shortages of chips and other parts.

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