The sweeping shutdowns, which begin in August and run through the end of September, will hammer Toyota output in every major market -- Japan, the U.S., Europe, China and Asia.
Toyota had been aiming for a high February production plan to meet strong demand.
The automaker said parts such as semiconductors and wire harnesses are in short supply because of bottlenecks triggered by lockdowns in southeast Asia.
The automaker will reduce output again in November, but the impact will not be as painful as before and Toyota sees signs of recovery on the horizon.
The automaker has asked suppliers to make up for lost output so it can build an additional 97,000 vehicles between December and the end of March, Reuters reported.
The comment comes after the automaker said a parts shortages would cost it 14,000 vehicles in lost production in December.
Toyota said it would slash its global production plan for April by 150,000 units to 750,000 vehicles, compared with the original schedule reported to suppliers earlier this year.
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.
Japan’s Rohm Co. -- which supplies Ford, Toyota and Honda -- says it has been hampered by a severe shortage of key materials.
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.
The automaker this month will suspend output at all but one plant in North America — putting more pressure on dealers with historically low inventories.
The tally of vehicle production cuts due to microchip shortages just rose by nearly half a million.
Another 75,300 vehicles were eliminated from schedules because of the semiconductor shortage, mostly at North American factories.
More than 100,000 vehicles were cut from North American production schedules because of the global microchip shortage last week, according to the latest AutoForecast Solutions report.
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.
For 2022, the IHS Markit light-vehicle production forecast was cut by 9.3 percent, or about 8.4 million vehicles.
Japanese carmaker financials show how the COVID pandemic and the chip shortage continue to challenge them — despite positive fundamentals.
Automakers such as Honda have been forced to slash production due a shortage of microchips and now face an increase in costs amid China's COVID-19 curbs and the war in Ukraine.
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.
Toyota could lose up to 480,000 units from January through March.
Plant shutdowns have translated into lost wages for tens of thousands of workers across Mexico due to furloughs and layoffs.
Subaru's output fell 20 percent to 207,000 in the quarter, while deliveries plummeted 35 percent to 173,000 in the same period.
Toyota and Lexus dealers, who have been getting by for months with some of the leanest inventories in history, will see that trickle of vehicles dry up further.
Japanese supplier Denso expects Toyota's production to recover quickly.