October production volume lowered for the 2nd time
The world's biggest carmaker is still struggling to get on top of issues caused by the pandemic. After reaching record-high figures in the month of August, Toyota has made another round of adjustments to its production plans for October.
Initially, the global production plan for the month of October was approximately 800,000 units. But since Toyota has decided to make additional operation suspensions in select Japan production lines, the target volume has been reduced to 750,000 units.
Toyota looked to be heading for an upward trend regarding its sales and production numbers. Despite the impact of semiconductor shortages and health concerns due to the pandemic, Toyota Motor Corporation was able to produce 885,812 units in August thanks to their overseas production plants reaching record highs. Those numbers include their subsidiaries Daihatsu and Hino Motors, who have contributed 107,384 and 11,745 units, respectively.
However, the recent announcement of their production plans means Q4 2022 is not starting well compared to how they ended their Q3.
In addition, Toyota also recently decided to cut its losses by closing down its Russian plant. Toyota's St. Petersburg plant used to manufacture the Camry and RAV4, which produced around 80,000 units in the region.
But since the tensions between Russia and Ukraine disrupted the supply of key materials and parts for producing those models, Toyota was forced to suspend its manufacturing operations and stayed that way since March.
The end is nowhere in sight when it comes to parts shortages and supply chain issues. There's good reason to believe the situation will drag on until at least next year. And that applies not only to Toyota but also to other car manufacturers. So if you're still waiting for things to normalize and avoid a long list in the order books, then good luck.