Toyota Motor Corp. said on Thursday it plans to produce about 800,000 vehicles worldwide in October due to a shortage of semiconductors, about 100,000 fewer than its average monthly production plan, Reuters reported.
The world’s largest automaker said last month that it was aiming to produce about 900,000 vehicles a month from September to November. Now, Toyota expects to produce an average of about 850,000 vehicles per month from October to December.
Nonetheless, Toyota is keeping its global vehicle production target of 9.7 million vehicles for the current fiscal year through March 2023 unchanged. According to its production plan for October, Toyota will suspend production at 10 lines at seven domestic plants for up to 12 days.
According to German weekly AutoWeek, Murat Aksel, head of procurement for Volkswagen’s board of directors, said recently that the chip shortage is not expected to end in 2023 and that Volkswagen is preparing for a “new normal” of supply chain disruptions. However, research data from Heineken International Group shows that the global average chip delivery cycle (chip from order to delivery time) in August was 26.8 weeks, compared with the average delivery cycle in July shortened by one day, narrowing for the third consecutive month.