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Toyota Motor, a Japanese car company, has again cut its global production plans for October because of the epidemic and parts shortages. Toyota announced on its website that due to the shortage of semiconductors and other components, the spread of the COVID-19 epidemic and the stagnation of logistics, Toyota cut its global production plan for October by about 50, 000 vehicles. After the adjustment, the global production plan for October will be reduced to 750000 vehicles from 800000 announced not long ago.

On Sept. 22, Toyota announced global production of about 800000 vehicles in October, 100000 fewer than previously expected, and the further cut in production plans means that Toyota's global production in October was 150000 fewer than the initial forecast of 900000. By contrast, Toyota produced only 627452 new cars last October, hit by the same factors.

After this adjustment, Toyota Motor in October, a total of 14 factories in Japan, a total of 28 production lines, 5 new factories 5 production lines will be suspended. Among them, Toyota Tadahara factory and Kyushu Miyagi plant shut down production for the longest time, 10 days respectively, Toyota Tadahara factory shutdown time is the shortest 7 days, affected by the factory shutdown, new affected vehicles include Toyota Prius, Carola, Prado, FJ Cruiser, Lexus GX, ES, RX and so on.

However, when Toyota announced a reduction in its monthly production target, it still stressed that the production cut would not affect the full-year production plan, and that the full-year production target of 9.7 million vehicles in fiscal year 2022 (April 2022-March 2023) remained unchanged. Between April and August this year, Toyota produced a cumulative global production of 3593807 vehicles, accounting for 37.0 per cent of its annual production target of 9.7 million vehicles, according to official Toyota data, meaning Toyota will have to complete the remaining 63 per cent in July. Among them, Toyota's global production fell 9.1% year-on-year to 692259 vehicles in April 2022, of which Japanese local production fell 9.0% to 243425 vehicles; May fell 5.4% to 634940 vehicles, of which Japanese local production fell 28.5% to 144204 vehicles; June fell 4.59% to 793378 vehicles, of which Japanese local production fell 30.0% to 206,373 vehicles Domestic production in Japan fell 23.3 per cent to 221817 vehicles in July from a year earlier, while Toyota's global production rose 44.2 per cent to 766683 vehicles in August from a year earlier, the first increase in four months. Japanese local production rose 5.6 per cent to 196038 vehicles.

With regard to the above-mentioned decline in production from April to July, Toyota said that it was mainly due to the shortage of parts and components caused by the epidemic and increased demand for semiconductors, and some Toyota factories were forced to stop production or cut production. Toyota's production was lower than the previous year's level, and the year-on-year increase in production in mid-August was mainly due to the depressed data caused by the epidemic in the same period last year.

Due to the continued lower-than-expected production, although Toyota has repeatedly stressed that the full-year production target of 9.7 million vehicles in fiscal year 2022 (April 2022 to March 2023) will remain unchanged, there have been media reports. In view of Toyota's production capacity lagging 10.3% in the first four months of this fiscal year (April-July), industry insiders pointed out that Toyota's full-year production target may be reduced. 木拉提 Aksel, head of procurement for Volkswagen's board, had previously said that the chip shortage was not expected to end in 2023 and that Volkswagen was preparing for a "new normal" of supply chain disruptions.

A Toyota spokesman said that as the chip shortage eased, Toyota was able to obtain more semiconductor components than expected, mainly from Asia, where consumer demand was also strong. However, Toyota also said that considering many uncertainties in the general environment, future production capacity is difficult to predict, but will do its best to curb sudden production cuts.

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