Toyota cuts production plan for the second time for June
Toyota Motor Corp (NYSE: TM) on Friday cut its global production plan for June for the second time this month amid chip shortage and supply chain constraints
By Shubhangi Mathur
Published - May 27, 2022, 06:42 PM ET
Last Updated - Feb 29, 2024, 08:05 AM EST
• The automaker now expects to produce around 50,000 fewer vehicles in the month
Toyota Motor Corp (NYSE: TM) on Friday cut its global production plan for June for the second time this month amid chip shortage and supply chain constraints.
The Japanese automaker—which had already cut the production by 100,000 vehicles in June on Tuesday—now expects to produce around 50,000 fewer vehicles in the month.
The production cut comes as automakers face challenges related to microchip shortage and supply chain crunch due to Covid-19 lockdowns in China.
