Toyota's July global vehicle output drops again, puts annual target in doubt

Automaker Toyota misses targets for the fourth straight month as global output falls again

said on Tuesday its July global vehicle production had fallen 8.6% year-on-year, missing its target for the fourth straight month, as COVID outbreaks, severe weather and a recall probe on top of a persistent chip shortage hurt output.

Toyota produced 706,547 vehicles worldwide last month, below its target of around 800,000 units and the year-earlier output of 773,135.Production in the first four months of the current fiscal year, which began in April, has fallen 10.3% short of its initial plan. Toyota said domestic production had tumbled 28.2%, outweighing record July overseas production, up 4.5%, driven by a strong recovery in Europe, China and the rest of Asia.

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