Toyota said its forecast for vehicle production in the fiscal year ending March 31 “is expected to be lower than the previous forecast of 9 million units” because of difficulties in obtaining microchips. The Japanese automaker said its production plan for February should be around 700,000 units.
+ Financed vehicle sales rose 6.8% in 2021
The company was the biggest seller of cars in the US over the last year. Toyota says in a statement that current demand is “very strong”. “However, due to the impact of continued demand for semiconductors across all industries, we have adjusted our production plan by around 150,000 units globally,” he said.
The company said it will continue to assess the status of semiconductor-related vehicle parts and that it considers using substitutes when possible in order to preempt the current problem.
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