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Toyota cuts global vehicle production plan for November by 15% By Reuters

by Mike Robinson

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© Reuters. FILEPHOTO: A Corolla is adorned with the Toyota logo at Geneva International Motor Show (Geneva, Switzerland), March 5, 2019. REUTERS/Denis Balibouse/File Photograph

TOKYO, Reuters Toyota Motor (NYSE) Corp said Friday that its November global output will be reduced by 15% as the COVID-19 pandemic has slowed down production of automotive chips.

Japan’s top carmaker stated in a release that they would make 100,000-150,000 less vehicles than initially planned.

Toyota’s full-year production plan was cut last month to 9.3 million, from 9.3million. This is due to lower September and October output. It stated that it will continue to meet this target on Friday.

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