Amidst a global shortage of semiconductors, Japanese automaker Toyota Motor Corp. reportedly announced that it would replace one of the 'smart' keys for its cars.
FILE PHOTO: Toyota Motor Corporation's cars are seen at a briefing on the company's strategies on battery EVs in Tokyo, Japan December 14, 2021.
"Due to supply chain delays, Toyota will temporarily provide one smart key for certain vehicles produced in North America," Toyota said in a statement emailed to Fox Business Digital. "Our manufacturing, logistics and sales teams are working diligently to develop countermeasures to minimize impact to customers."Previously, the Japanese automaker warned its annual vehicle production was likely to come in below its initial annual target.
On Friday, Toyota said while overseas sales increased – mainly in Asia – during the first half of fiscal year 2023, globally sales fell below the previous year's levels, due to "the tight supply-demand balance for semiconductors and other factors." "However, a rebound from the impact of parts supply shortages due to the spread of COVID-19 in Southeast Asia in the previous year resulted in a year-on-year increase in global production," it said. FILE PHOTO: A Toyota logo is displayed at the 89th Geneva International Motor Show in Geneva, Switzerland March 5, 2019.