Toyota misses May global production target

MG News | June 29, 2022 at 09:59 AM GMT+05:00

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June 29, 2022: Toyota Motor Corp on Wednesday said it missed its already downgraded global production target for May, falling short for the third month running, as China's COVID-19 lockdowns and semiconductor shortages continued to bite.

The world's largest automaker by sales said it produced 634,940 vehicles globally last month, a 5.3% decline from the same month last year and short of its target of about 700,000.

Toyota in mid-April said it planned to produce 750,000 vehicles in May but soon lowered that by 50,000 due to COVID-19 containment measures in Shanghai.

Reuters

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