Toyota cuts global production plan by 50,000 vehicles in July
Premium- Toyota expects to make 800,000 vehicles next month.
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Toyota Motor on Wednesday announced that it will be cutting down its July global production plan by 50,000 vehicles owing to semiconductor shortages and a spike in COVID-19 cases. The company expects to make 800,000 vehicles next month.
In a press release regarding the same, the Japanese carmaker said, "As it remains difficult to look ahead due to the shortage of semiconductors and the spread of COVID-19, there is a possibility that the production plan may be lower."
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Toyota, however, kept its annual global production target of 9.7 million vehicles unchanged.
