Toyota Suspends More Production
Toyota Motor Corp. is suspending more production due to parts shortages caused by the COVID-19 lockdown in Shanghai, a sign that supply-chain bottlenecks could persist even as the city starts to gradually reopen. Toyota’s global production plan for June stands at about 850,000 vehicles, 250,000 of which will be made in Japan and the rest overseas. This represents a cut of about 100,000 vehicles for June worldwide.
“The shortage of semiconductors, spread of COVID-19 and other factors are making it difficult to look ahead,” Toyota said in the statement. “Due to parts supply shortages caused by the lockdown in Shanghai, we have decided to suspend operations in May and in June.”