Toyota cuts global vehicle production plan for November by 15% By Reuters

October 15, 2021 admin Stock News 0

© Reuters. FILE PHOTO: The Toyota logo is seen on a Corolla model at the 89th Geneva International Motor Show in Geneva, Switzerland March 5, 2019. REUTERS/Denis Balibouse/File Photo

TOKYO (Reuters) – Toyota Motor (NYSE:) Corp on Friday said it will lower planned global output in November by as much as 15% because the COVID-19 pandemic has slowed production of auto chips.

Japan’s leading carmaker in a press release said it would produce between 100,000 and 150,000 vehicles fewer than it had originally planned.

Toyota last month cut its full-year production plan for the year to March 31 to 9 million from 9.3 million because of lower output in September and October. On Friday it said it is sticking to that target.

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