Japanese automaker Toyota Motor was forced to cut passenger car production by more than 25% in October from the same month in 2020. The reason for the decline in production lies in the lack of microchips.
This was reported by RBC-Ukraine Auto with reference to the Toyota press service.
Due to the shortage of semiconductors, the company also receives less ready-made assemblies from component suppliers – starters, generators, various electric drives, etc. In October, all Toyota factories produced a total of 627,452 vehicles, which is 217,655 vehicles less than in the same period 2020 year. October sales totaled 677,564 vehicles. After the publication of monthly sales statistics, Toyota shares lost 3.4 percent in value in a matter of hours.
The managers of the Japanese company are confident that in November the automaker will be able to produce at least 850 thousand new cars. According to forecasts, in the first half of next year, the company intends to overcome the shortage of semiconductors in most markets. Despite component shortages, Toyota is forecasting yen 2.8 trillion ($ 24 billion) in operating profit growth for 2021.
Earlier it became known that Toyota does not recognize modern batteries and will continue to produce old ones. Nickel-metal hydride batteries first appeared on the first generation Prius sedan.
Recall that Lexus LX600 based on Toyota Land Cruiser 300 impressed with its price. The novelty was 2.5 times more expensive than the platform Toyota Land Cruiser 300.