Toyota will drastically reduce production volumes

Toyota will drastically reduce production volumes

FineAuto

Toyota will be forced to stop car assembly in March 2022 due to problems with the supply of electronic components. Downtime will be introduced on three assembly lines at two plants that produce Toyota C-HR and Aqua, as well as Lexus ES, RX, NX, CT and UX. This will lead to the fact that the production volumes of cars will drop sharply in early spring – according to the automaker’s own estimates, 950,000 cars will roll off the assembly line in March, which is 100,000 less than the original production plan.

From the official statement of the automaker, it follows that the volume of production in the current fiscal year, which will end on March 31, 2022, will be sharply reduced: instead of the planned nine million cars, Toyota will produce only 8.5 million cars. However, the situation is still developing more optimistic than forecasts. It was expected that during February, 11 lines at eight plants would go into idle time, but as a result, assembly was suspended only at seven lines of six enterprises.

A month earlier, it became known that Toyota temporarily closed factories due to the coronavirus outbreak, as a result of which the automaker did not produce 47,000 cars in January. This was also reflected in the assembly volumes of the new Land Cruiser 300, which already became a scarce model almost immediately after its debut. Toyota warns that the queue for the SUV has already stretched for four years.

Despite problems with the release of cars amid a global shortage of semiconductors, Toyota managed to top the ranking of the most valuable car brands compiled by Brand Finance. The company was valued at $64.3 billion. The second in the ranking was Mercedes-Benz, the price of which is 60.8 billion dollars, and Tesla closes the top three – 46 billion dollars.

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