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Toyota to cut global production by nearly 100,000 cars in October: Report

According to the latest report, Toyota Motor Corp said on Thursday it plans to produce about 800,000 vehicles worldwide in October due to a shortage of semiconductors, about 100,000 less than its average monthly production plan vehicle.

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The world’s largest automaker said last month that it aims to produce about 900,000 vehicles per month from September to November. Now, Toyota expects to produce an average of about 850,000 vehicles a month from October to December.

Still, Toyota kept its target of 9.7 million global vehicle production for the current fiscal year through March 2023 unchanged. According to its production plan for October, Toyota will suspend production on 10 production lines at seven domestic plants for up to 12 days.

Toyota production OctoberAccording to the German “Automobile Weekly” report, Murat Aksel, Volkswagen’s board procurement director, said recently that the chip shortage is not expected to end in 2023, and Volkswagen is preparing for a “new normal” of supply chain disruptions.

However, according to research data from Haina International Group, the global average chip delivery cycle (the time it takes for a chip to be ordered to delivery) in August was 26.8 weeks, one day shorter than the average delivery cycle in July and narrowing for the third consecutive month.

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