Toyota now sees output at 850,000 in September and only 800,000 in October,
A major earthquake in Japan threatens to exacerbate the ongoing global microchip shortage as the total number of vehicles removed from production plans this year surpassed 1 million.
The chip shortage continues to hammer away at global vehicle production as automakers await additional semiconductor manufacturing capacity to come online.
The number of vehicles cut from automakers’ production plans this year because of the chip shortage surged 42 percent from a previous estimate, according to AutoForecast Solutions.
Another 75,300 vehicles were eliminated from schedules because of the semiconductor shortage, mostly at North American factories.
Automakers are still shaving back production plans due to semiconductor shortages, but the worst-case scenario for North America just got a tiny bit better.
North American factories took another 26,000 vehicles out of their production schedules last week, significantly more than companies were cutting at the beginning of the month.
Japanese carmaker financials show how the COVID pandemic and the chip shortage continue to challenge them — despite positive fundamentals.
Keeping the flow of new Toyotas and Lexuses coming to U.S. dealers amid dozens of simultaneous threats falls to two executives who manage it all the Toyota way.
The global microchip shortage could be what finally ends the automaker's nine decades of dominance on its home turf.
A weakening yen has emerged as a windfall for the country's automakers, helping buoy results just when they need it most amid pinched production and derailed deliveries.
The industry is settling into the new year acknowledging that it's not out of the woods yet on chip shortage disruptions.