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January 18, 2022

Toyota cuts February production, revises full year output forecast

Toyota axes days of February production in Japan; revises down fiscal year output forecast.

By Graeme Roberts

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.

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“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).

Free Report
img

How is Toyota ensuring its future success?

Toyota is accelerating digital growth and serving their clients better. The company is investing in emerging technologies to maintain its segment operations, drive site traffic and revive its business prospects amid COVID-19.  Toyota AI Ventures along with Toyota Research Institute (TRI) launched the Call for Innovation initiative to promote innovation around robotics technology. It made a significant amount of investment in startups working on mobile technologies for assistive robots.  Our Enterprise Tech Ecosystem report on Toyota provides you with information and insights into their digital transformation strategies, including: 
  • Overview of technology initiatives covering partnerships, product launches and investments 
  • Insights into its accelerator & innovation programs 
  • Details of estimated ICT budgets and major ICT contracts 
  • Partnership network map 
Download the full report to align your strategies for success and get ahead of the competition. 
by GlobalData
Enter your details here to receive your free Report.

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