Toyota tried to ramp up production in the final months of the business year to make up for lost output earlier due to a shortage of components from factories in Southeast Asia hit by lockdown restrictions of COVID-19.
Toyota Motor Corp will build 700,000 vehicles worldwide in February, up 10% year-on-year
Toyota Motor Corp will build 700,000 vehicles globally in February, up 10% year on year, but will still need to manufacture a million more in March to hit an annual production target of 9 million, the Nikkei business daily reported. .
A Toyota spokesman declined to comment when asked about the Nikkei report or whether the Japanese automaker plans to stick to that production target for the year ending March 31.
The world’s largest automaker tried to increase production in the final months of the business year to make up for lost output earlier due to a shortage of components from factories in Southeast Asia affected by COVID-19 lockdown restrictions.
Toyota and other automakers have been forced to cut production even as demand in key markets such as China has rebounded.
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