Toyota Motor Co. announced yesterday (May 27) that it will cut global production in June by 50,000 vehicles to 800,000. This is the second cut this week. Toyota cites lockdown measures in China’s financial center of Shanghai as the reason.
Toyota expects to continue producing around 9.7 million vehicles worldwide in the current fiscal year. However, there is a possibility that the company will lower this figure further.
Toyota announced it would suspend production at some Japanese factories during the first week of June.
Toyota’s production cuts are another indication that the Chinese coronavirus lockdowns are increasingly unsettling automakers and other manufacturers facing microchip shortages.
Toyota had already announced on Tuesday that it would cut global production in June by 100,000 vehicles to 850,000 due to the semiconductor shortage. This announcement means that the company has now cut production of 150,000 vehicles in June.