Toyota’s October vehicle output to be weighed down by chip shortage

Toyota Motor Corp (7203.T) said on Thursday it plans to produce about 800,000 vehicles worldwide in October, about 100,000 short of its average monthly production plan, due to semiconductor shortages.

The reduction could be seen as a worrisome sign that the chip shortage will continue to stymie production at the world’s largest automaker by sales in the second half of the financial year to end March.

That is seen as a crucial period for the group to bounce back from a production shortfall caused by a shortage in the key vehicle component and wider supply chain disruptions.

Still, Toyota has not adjusted its global vehicle production target for the current financial year, sticking to its forecast for a record 9.7 million units.

The Japanese automaker said last month it aimed to produce about 900,000 vehicles per month on average from September through November.

It Still, Toyota has not adjusted its global vehicle production target for the current financial year, sticking to its forecast for a record 9.7 million units.

The Japanese automaker said last month it aimed to produce about 900,000 vehicles per month on average from September through November.