Automaker Toyota to miss its 2023 sales forecast due to semiconductor crisis
Last updated: October 28, 2022
Toyota recently announced that while it was able to meet a production quota of 800,000 vehicles set in November, it would miss its 2023 target due to the semiconductor crisis.
The automaker set a cap of 9.7 million vehicles by the end of the fiscal year. However, the forecast is downward given the crisis has led to semiconductor shortages and other issues affecting the global economy.
A spokesman for the manufacturer described the situation as temporary due to “the impact of factors such as semiconductor shortages,” with no clarity on the future of production. The company said the impact will continue and they will closely monitor parts supply to consider all possible measures.”
The company strives to deliver on time. In that sense, “of the 800,000 cars expected to be assembled in November, 250,000 cars will correspond to its factories in Japan, and another 550,000 cars will be used in the rest of its factories.”
For the September-November quarter, they aim to assemble 900,000 units per month. Toyota keeps all of its production centers active.
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Source: US Economy
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