Toyota cuts June production plan again

49
1
Toyota cuts June production plan again

Toyota Motor Corp is cutting its global production plan for June for the second time this week.

The automaker is reducing its planned output by about 50,000 vehicles to 800,000.

The COVID 19 lockdown in Shanghai is the reason for the cut.

Toyota cut its production plan for June by roughly 100,000 vehicles to around 850,000 vehicles. The company has cut 150,000 vehicles from its June estimates because of Friday's announcement.

Toyota expects to produce 9.7 million vehicles worldwide in the current financial year, though there is a possibility that the estimate could be lower.

JAPAN's 5% -- 20% of the population are affected by the JAPAN's 5% -- 20%

The Japanese company said it would suspend operations at some of its domestic plants for the week of June 6.

Toyota predicted production cuts in April, May and June, but at that time the computer chip shortage affected auto as well as electronics manufacturers.