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Toyota to cut down production over next three months

The company has cited chip supply issues.
Toyota Recall
Posted at 12:13 PM, Mar 11, 2022
and last updated 2022-03-11 15:35:51-05

TOKYO — Toyota is scaling back production in Japan for the next three months as it deals with a chip supply shortage.

The carmaker is also dealing with a supply shortage with other parts.

Starting in April, Toyota will cut back on production by 20%, then 10% in May and 5% in June.

“We will continue to do our best to deliver vehicles to our customers as soon as possible,” said Shiori Hashimoto, a spokeswoman for Toyota.

Toyota’s announcement comes after it had already slashed production in 2021 by 500,000 vehicles.

The world’s best-selling carmaker also reported a 21% fall in profits during the last quarter of 2021.

Other carmakers, including Volkswagen, General Motors, Ford, Nissan, Daimler, BMW have also had to scale back production recently.