Toyota is lowering its planned February output by 150,000 vehicles globally due to the semiconductor shortage affecting the auto industry, according to media reports.
The new target of 700,000 vehicles is lower than the company’s estimated January production of 800,000 units, but news reports say January’s goal is still “flexible.” In North America alone, production in February will reportedly be reduced by 25,000-30,000 units.
Toyota also said it is unlikely to reach its previously announced annual production forecast of 9 million vehicles before the fiscal year ends on March 31.