Toyota's Q2 global vehicle production target falls short

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.

File photo of the Toyota logo outside a company dealership. (AP)
File photo of the Toyota logo outside a company dealership.

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 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.

Also check these Vehicles

Find more Cars
Toyota Glanza (HT Auto photo)
₹ 7.18 - 9.45 Lakhs* *Ex-showroom price
Add to compare
Check latest offers
Toyota Camry (HT Auto photo)
₹ 39.41 - 41.20 Lakhs* *Ex-showroom price
Add to compare
Check latest offers
Toyota Belta (HT Auto photo)
UPCOMING
₹ 10 Lakhs *Expected Price
View Details
Toyota Fortuner (HT Auto photo)
₹ 33.43 - 51.44 Lakhs* *Ex-showroom price
Add to compare
Check latest offers
Toyota Vellfire (HT Auto photo)
₹ 1.20 - 1.30 Cr* *Ex-showroom price
Add to compare
Check latest offers
Toyota Hilux (HT Auto photo)
₹ 30.40 - 37.90 Lakhs* *Ex-showroom price
Add to compare
Check latest offers

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
Shopping Bag Shop Now
74% OFF
Microfiber Car Cleaning Soft Brush Ideal as Mop Duster, Washing Brush with Long Handle, Dust Cleaner Car Wash Brush with Handle, Soft Brush Scratch Free, Cleaning Dashboard Curved Design - Grey
Rs. 389 Rs. 1,499
1% OFF
GOODAIR Clear Car Windshield Enhancer | Classic |12 Tablets
Rs. 295 Rs. 299
51% OFF
AGARO Galaxy Cordless Tyre Inflator, Portable Air Compressor, Flash Light, Power Bank, Multipurpose Use, Rechargeable, Up to 150 PSI Air Pump for Car, Bike, Foot Balls, Inflatables, Black & Red
Rs. 2,199 Rs. 4,499
55% OFF
Antson Portable High Power 2 in 1 Car Vacuum Cleaner | USB Rechargeable Wireless Handheld Car Vacuum Cleaner Traveling, Camping Reusable and Sustainable, Portable,Rechargeable Vacuum (2 in 1)
Rs. 899 Rs. 1,999

Please provide your details to get Personalized Offers on

Choose city
+91 | Choose city
Choose city
Choose city
Powered by: Acko Logo
Please be noted that any information provided herein above will be received by Acko General Insurance Limited (“Acko”). By mentioning the above information, you agree to provide these details and information to Acko.
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.