At the start of the microchip crisis, Toyota seemed less affected than the others, but time has caught up with it, so much so that it is also feeling the repercussions today.
Even if the situation tends to improve on a global scale, it will be necessary to wait until the year 2023 before a certain normality is regained on this side. Thus, the news this morning concerning a reduction in production in April is not surprising.
Specifically, Toyota is cutting its global production forecast by 150,000 vehicles next month. It actually goes from 900,000 to 750,000. Today’s announcement comes a week following the company said it would cut domestic production by 20% during the months of April, May and June. to ease pressure on vendors struggling with shortages of chips and other parts.
“It is difficult to predict the situation several months in advance. It is possible that the forecast will be revised downwards,” the company said in a statement.
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Generally, during the months covered by the period, Toyota produces an average of 800,000 vehicles on a monthly basis. There, with everything that has been announced, a reduction of 17% in April, 10% in May and 5% in June is expected.
And aside from the chip crisis, two other factors are affecting the company’s business; COVID-19 which forced it to suspend a joint venture with the Chinese group FAW in the city of Changchun, in the north-east of the country, then the war in Ukraine which posed logistical questions to it with the cessation of activities of a factory in Russia.
These two factors were not taken into account in the global production reduction plan, it should be noted. The thing is being closely monitored by the company, however, as the situation is changing rapidly.
