Toyota said on Tuesday its latest revision meant the full year production forecast for the fiscal year ending 31 March, 2022 was expected to be lower than the previously predicted 9m units.
“Our global production plan in February 2022 is expected to be around 700,000 units,” the automaker said in a statement.
“Current demand is very strong, therefore we were aiming for a high February production plan. However, due to the impact of the continuing demand for semiconductors across all industries, we have adjusted our production plan by around 150,000 units globally.
“With regards to the shortage of semiconductor-related parts, we will continue to examine the situation and consult with all companies involved in considering the use of substitutes where possible in anticipation of a continuing shortage.
“We will also continue to work with our suppliers in strengthening the supply chain and make every effort to deliver vehicles to our customers as soon as possible.”
In Japan, the company is cancelling multiple days of February production across 11 lines in eight plants (out of 28 lines in 14 plants).