Toyota's Q2 global vehicle production target falls short

  • Toyota hopes that it is still on the path to reach its record 9.7 million global vehicle production target for the year ending March 2023.
File photo of the Toyota logo outside a company dealership. (AP)
File photo of the Toyota logo outside a company dealership.

Toyota Motor's production for the second quarter in April-June fell short of 9.8% from its initial plan, but the automaker seems to be on an optimistic side for its business from August onwards as the coronavirus lockdowns eased in China and demand outside Japan was robust. The carmaker said that its output and sales were on the path to recovery.

Toyota hopes that it is still on the path to reach its record 9.7 million global vehicle production target for the year ending March 2023. "We do expect a recovery trend, including in Japan, but we are still in a situation where we cannot foresee the future," a spokesperson of the company said, pointing to wariness over risks such as ongoing global chip shortages, a resurgence of the coronavirus pandemic that is hitting Japan as well as high fuel prices.

Also check these Vehicles

Find more Cars
Toyota Camry 2024 (HT Auto photo)
UPCOMING
Engine Icon2487 cc FuelType IconPetrol
₹ 50 Lakhs
View Details
Toyota Bz4x (HT Auto photo)
UPCOMING
BatteryCapacity Icon72.8 kWh Range Icon405 Km
₹ 70 Lakhs
View Details
Toyota Glanza (HT Auto photo)
Engine Icon1197.0 cc FuelType IconPetrol
₹ 7.18 - 9.45 Lakhs
Compare
View Offers
Toyota Belta (HT Auto photo)
UPCOMING
Engine Icon1462 cc FuelType IconPetrol
₹ 10 Lakhs
View Details
Toyota Camry (HT Auto photo)
Engine Icon2487.0 cc FuelType IconMultiple
₹ 46.17 Lakhs
Compare
Toyota Fortuner (HT Auto photo)
Engine Icon2755.0 cc FuelType IconMultiple
₹ 33.43 - 51.44 Lakhs
Compare
View Offers

Also Read : Toyota, Suzuki to partially shut Pakistan plants: Here is why

Toyota produced 793,378 vehicles globally in June, which was slightly above a target of 750,000 it had cut twice and down 4.6% from the same month last year. During its April-June first quarter, Toyota produced 2,120,577 vehicles, 9.8% below its initial target of 2,350,000 for the period. "The entire industry and all the Japanese auto manufacturers in April and May were in a state of disarray," said Koichi Sugimoto, an analyst at the Mitsubishi UFJ Securities.

The automaker's overseas production hit record levels for both June as well as the first six months of the calendar year, with 587,005 units and more than three million units, respectively. Additionally, the company's domestic and North American factories were hit harder by the semiconductor shortage, since they make cutting-edge vehicles, and for the luxury brand Lexus.

Thanks to easing of lockdown in Shanghai, production in China rose 42% for June. Other Asian countries also saw production bouncing back from the pandemic.

First Published Date: 28 Jul 2022, 15:44 PM IST
NEXT ARTICLE BEGINS

Please provide your details to get Personalized Offers on

Choose city
+91 | Choose city
Choose city
Choose city

Want to get the best price for your existing car?

Powered by: Spinny Logo
By clicking "View Offers" you Agree to our Terms and Privacy Policy

Dear Name

Please verify your mobile number.

+91 | Choose city
Couldn't verify the OTP.
It's either expired or it's incorrect.