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Toyota lowers its production targets, why?

At Toyota they continue to feel the onslaught of the crisis in the supply of semiconductors. Those responsible for the Japanese brand have been forced to reduce their vehicle production plans for the coming monthsdespite the company’s great efforts to make up for lost time over the past summer.

The lack of supply of microchips affects the entire automotive sector in a unitary way, including the automotive group with the highest production capacity. The Toyota Group signed the past 2021 the manufacture of more than 10.5 million cars. However, these good figures are being overshadowed by the negative situation in the electronics sector worldwide.

In a recent intervention by the Toyota leadership, they have admitted that they have been forced to reduce its global production forecast by 100,000 units for the following October and 50,000 vehicles for the following November. From the Japanese manufacturer they assured last August that their plans included sealing a production of 900,000 vehicles between September and November (300,000 per month), while with the predicted decrease in their figures, they now hope to reach a production of 850,000 vehicles from October to December.

However, from the Toyota Group they have been planted and continue with the forecast of producing 9.7 million vehicles, between Toyota and Lexus, for the next month of March 2023 (when their fiscal year ends). In order to comply with this plan, they must significantly increase the manufacturing plans that they have already specified for the period from October to December and achieve a quarterly average of just over 2.4 million vehicles produced.

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These cuts will also affect almost all Lexus models.

The models mainly affected by this production reduction would be the hybrids such as the Toyota RAV4, the Toyota Crown or the Toyota Camry, although other non-electrified models would also be forced to increase their delivery time, as in the case of the Toyota GR Yaris. Likewise, this production stoppage would also affect Lexus with practically all of its rangeso the problem facing Toyota would be something generalized throughout the compendium of brands.

During the first half of 2022, the Toyota Group has signed a global vehicle production of around 5.1 million units. This figure is positioned as a decrease in the manufacture of models of 3.8 percent, compared to the same period in 2021. In the case of Toyota and Lexus, specifically, production fell by 3.5 percent, thus reaching the 4.36 million units.

Last July (the last month for which data has been published) the global production of the Toyota Group decreased significantly to 835,192 units. This represented 6.9 percent below what was signed in the same month of the previous year. Of all the factories that Toyota currently has in operation, most of the loss has occurred in those based in Japanese territory, where it fell by 25 percent. On the contrary, operations outside said eastern region increased by 7.7 percent.

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