Toyota cut its annual production target by 300,000 vehicles as slowed output at parts factories in Vietnam and Malaysia added to the pain of a global shortage of auto chips
cut its annual production target by 300,000 vehicles on Friday as rising COVID-19 infections slowed output at parts factories in Vietnam and Malaysia, compounding a global shortage of auto chips.
Unlike other big global automakers that were forced earlier to scale back production plans, Toyota had managed to avoid cuts to output because it had stockpiled key components along a supply chain hardened against disruption following northeast Japan's devastating earthquake in 2011. Car sales in China in August fell by almost a fifth from a year earlier because there were fewer vehicles for people to buy.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stocks making the biggest moves premarket: Affirm, Toyota, Endo, Bausch Health and othersThese are the stocks posting the largest moves before the bell.
Read more »
GM facing production cut in North America due to chip shortageThe chip shortage is being 'caused by semiconductor supply constraints from international markets experiencing COVID 19-related restrictions,' the company said in a statement.
Read more »
Hurricane Ida’s Destruction Adds to Car Market’s WoesThe storm damaged vehicles across several states, sending shoppers to dealers already struggling because of the chip shortage.
Read more »
Fox’s Michael Thorn On Future Of ‘The Simpsons’, ‘Family Guy’ & ‘Bob’s Burgers’In a January 2020 TCA interview with Deadline, Fox Entertainment President Michael Thorn spoke about the network’s animation development and production ramp-up as part of “preparing for…
Read more »
Make Your Casual Hangouts Extra Special With These Timeless Jean Pairings - Love for GlamThe best part about jeans pairings is that is do not target a specified gender or age, and You can wear them with a bunch of different combinations.
Read more »
Supply chain issues: Retailers say shortages are unprecedentedIndustry experts warn current shortages of some items could be 'the final straw' for some firms.
Read more »