Toyota Motor announced on the 18th that it is expected to produce about 750,000 vehicles worldwide in May. Due to the shortage of chips, it will be cut by about 100,000 units compared to the 850,000 units planned at the beginning of the year, a reduction of about 10%. The total output from May to July is expected to be about 2.4 million units.
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Moreover, Toyota expects that 9 of the 28 production lines in 14 factories in Japan will be shut down for several days in May, and some production lines will be shut down for up to 6 days.
Toyota reiterated that with chip shortages and the spread of the epidemic, it is still difficult to assess the situation in a few months. Toyota has announced on the 7th of this month that due to the spread of the epidemic, logistics chaos in Shanghai, China, suspension of parts procurement, and shortage of car cores, its factory in Japan will expand production in April, with a maximum reduction of 30% compared with the plan at the beginning of the year.
