Toyota plans to build 10.6-million vehicles in 2023
The car giant said that it saw a downside risk of about 10% on that baseline production volume on risks such as shortages in chips supply or the spread of Covid-19
Toyota on Monday said it could produce as many as 10.6-million vehicles this year, while warning of downward risk to its projection from the possible impact of issues such as parts supply shortages and Covid-19.
The car giant said that it saw a downside risk of about 10% on that baseline production volume — a value which did not constitute a formal production target for this calendar year — on risks such as shortages in chips supply or the spread of Covid-19.
The purpose of disclosing the baseline figure was to make it easier for suppliers to draw up management plans, a Toyota executive said.
Toyota last month maintained a production forecast of 9.2-million vehicles for this fiscal year, which runs through March from April 2022.
In November, it had lowered a previous projection of producing 9.7-million vehicles this fiscal year due to the fallout from rising material costs and the persistent semiconductor shortage.
Reuters