Toyota cuts annual auto production target on shortage of chips, parts

Reuters

Posted at Sep 10 2021 03:16 PM

Toyota Motor Corporation President Akio Toyoda, shows the e-Palette autonomous concept vehicle at the Tokyo Motor Show, in Tokyo, Japan October 23, 2019. Edgar Su, Reuters/File Photo
Toyota Motor Corporation President Akio Toyoda, shows the e-Palette autonomous concept vehicle at the Tokyo Motor Show, in Tokyo, Japan October 23, 2019. Edgar Su, Reuters/File Photo

TOKYO - Toyota Motor Corp, the world's biggest automaker by sales volume, cut its annual production target on Friday by 300,000 vehicles because of a global shortage of chips and supplies of auto parts from factories in Southeast Asia.

The Japanese carmaker now expects to build 9 million vehicles in the year to March 31, it said in a press release. 

The Southeast Asia factories have been affected by the COVID-19 pandemic, it said.

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