Covid, Shortages of Parts Push Toyota to Miss April Global Production Target
LAHORE MRIROR (Monitoring Desk)– Japan’s Toyota Motor Corp on Monday said it missed its global production target for April as COVID-19 outbreaks and a parts shortage slowed its post-pandemic recovery.
The world’s largest automaker by sales produced 692,259 vehicles last month, a 9.1% drop from the same month last year, and falling short of an earlier plan of making about 750,000 vehicles worldwide.
The numbers raise questions over the severity of the pandemic-hit supply chains and how the disruption will affect production in the coming months.
The automaker on Monday also said global sales dropped 11.1% in April versus the same month a year earlier to 763,708 vehicles. Domestic sales, excluding sales of units Daihatsu and Hino Motors Ltd, tumbled almost 17% to 103,143 vehicles.
SOURCE: REUTERS