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Toyota misses April global production target due to COVID, parts shortage -Breaking

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© Reuters. FILE PHOTO – Toyota Motor Corp. employees work at Motomachi, Toyota’s Motomachi facility in Toyota (Aichi prefecture), Japan, May 17, 2018. REUTERS/Issei Kato

TOKYO Reuters – Japan Toyota Motor Corp (NYSE 🙂 Corp Monday stated that its global production targets for April were missed due to COVID-19 strains and a parts supply shortage. The company’s recovery from the pandemic was slowed by these outbreaks.

Last month saw 692,259 cars produced by the world’s biggest automaker. This is 9.1% less than last year and falls short of its earlier goal of producing 750,000 worldwide.

These numbers raise concerns about the impact of pandemic on supply chains, and the effects that disruptions will have on production over the next few months.

Toyota last week reduced its June global production plan to 800,000. This was due to COVID-19 containment actions in China. It also indicated the possibility to lower its full-year output of 9.7 millions vehicles.

On Monday, the automaker also reported that global sales fell 11.1% to 763 708 vehicles in April. This is compared with the same month last year. The domestic sales, which excludes units Daihatsu or Hino Motors Ltd sales, fell almost 17% to just 103,143 cars.

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