Toyota reduced its production once again in July
Once again, Toyota announced that it was forced to cut production in July. The drop is significant as it reaches 8.6%. This is the fourth consecutive month that the Japanese giant is forced to do so.
This time, the reasons are multiple as the company is afflicted from everywhere. Basically, COVID-19 outbreaks, bad weather, a recall investigation, in addition to a persistent chip shortage, have hurt production.
The decline in production that continued in July may force Toyota to revise its annual target of 9.7 million vehicles produced.
In terms of more specific numbers, Toyota produced 706,547 vehicles worldwide last month, below its target of about 800,000 units. Last year, for the same period, the company produced 773,135 units.
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