Toyota to reduce its global Feb 2022 production by 150k units

KUALA LUMPUR: Yes, Toyota Motors came out as the biggest player in terms of sales in the US and it has now announced a cut in its global production plan. As per the recent announcement, the Japanese carmaker will be cutting its Feb 2022 production plan by 150,000 units.

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Why? It is nothing new, the storage of semiconductor chips has once again hit the auto industry. Toyota is the first to come out and revise its production in 2022. More automakers are expected to follow, reminding us of the 2021 chip shortage episode.

Initially, to meet the strong market demand Toyota targeted to produce 700,000 units in Feb 2022. However, the shortage of semiconductor chips forced the brand to reconsider the figures. Thus, putting a direct impact on Toyota’s production forecast for 2022-2023 which was initially set at nine million units.

Toyota will suspend the operation of 11 production lines in eight plants in Japan, in February. Several models will be affected by this decision including the GR Yaris, RAV4, Corolla, Yaris Cross, Harrier and many more. Few Lexus models will also be affected like the UX and LS.

Looking at Toyota’s previous two fiscal years production data, the automaker in FY2021 delivered 9.087 million units (including Lexus) and 9.466 million units in FY2020.

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