The blockade in China forces Toyota to cut production again

The automotive industry has basically resigned to reduce production and operate for the foreseeable future. It is more advantageous for a significant number of automakers to focus on reducing production, reducing overheads and increasing margins per vehicle during this long-term economic and logistic compulsion. It suggests that there may be. However, Toyota started this year saying it will do everything in its power to increase production as a way to make up for the losses incurred during the pandemic. The company even said it is expected to gradually normalize throughout the spring.

Unfortunately, things aren’t going as planned. By March, Japanese automakers Fiscal year production target lowered by 500,000 global units..another 20% was cut off in April And leadership began to express concern that those existing goals might not be fully acceptable. There were moments when the goals actually rose, but market reality shattered that dream, forcing Toyota to repeatedly retreat those claims. Currently, the company is reducing its planned production in June again over supply chain issues with China.

Toyota recently announced that it expects production next month to be about 100,000 below its initial target, and has added another 50,000 unmanufacturable vehicles to its list. According to the company, about 800,000 cars will remain in a month.according to ReutersToyota has blamed the incredibly strict COVID-19 blockade currently taking place in and around Shanghai.

from Reuters:

Japan’s largest automaker said it still expects to produce 9.7 million cars worldwide this fiscal year, albeit with a lower estimate of “potential.”

The company announced that it will shut down some domestic plants in the week of June 6.

Toyota’s reduction in estimates is widely regarded as the bell of Japan Inc, and how the blockade of the Chinese pandemic raises the uncertainty of automakers and other makers already tackling the shortage of microchips. The latest evidence of an increase.

The ongoing blockade of China is causing serious problems in the global supply chain, with a shortage of chips and many other factors that make it extremely difficult to produce goods in good condition. Many car makers wanted things to be stable by the summer. However, the current forecasts provided by industry analysts, media and industry leadership pose problems for all automakers until 2023.

[Image: Andrii Medvediuk/Shutterstock]

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