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What caused Toyota to cut 100,000 production vehicles in October. Know here


Toyota previously planned to produce nine thousand units per month from September to November 2022.

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Update on:
September 22, 2022, 14:46 pm

Despite the production cutback in October, Toyota has kept its global production target of 9.7 million vehicles for the current financial year to March 2023.
Despite the production cutback in October, Toyota has kept its global production target of 9.7 million vehicles for the current financial year to March 2023.

Toyota On Thursday, Motor Corp said it was planning to produce about 800,000 vehicles globally by October. This is about 100,000 units below the average monthly production plan given earlier due to the situation. shortage of semiconductors, the Japanese car brand claims. Last month, Toyota said its average monthly production plan from September to November would be around 900,000 units. The latest announcement comes as a blow to the previous production strategy.

(Also read: This six-wheeled armored vehicle based on Toyota Land Cruiser can destroy drones)

Interestingly, despite its production cutback in October, the world’s largest carmaker by sales is still sticking to its goal of producing 9.7 million vehicles globally for the current fiscal year. as of March 2023.

Toyota isn’t the only automaker affected by the cost shortfall. Several other automakers from around the world have been affected by the crisis. Some automakers have had to close their manufacturing plants temporarily due to chip shortages.

Modern cars rely heavily on software and advanced technologies. The 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. As a result, severe chip shortages have affected auto production worldwide.

The chip crisis started as a by-product of the Covid-19 pandemic. At the beginning of the pandemic, when the world’s economies announced closures in an effort to limit the spread of the virus, demand for consumer technology products that also used many chips had multiplied. . At the same time, auto factories were closed, leading chipmakers to shift their focus to consumer technology products. Then, when auto companies resumed production after economies around the world gradually reopened, chipmakers were unable to keep up with demand, creating a disparity in demand. difference between supply and demand.

First published date: September 22, 2022, 14:37 PM IST



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