Toyota is reportedly preparing to cut its auto production by as much as 15% in November. The news comes as the global semiconductor industry continues to suffer from supply shortages caused in large part by the COVID-19 pandemic.
The 15% figure makes up about 150,000 vehicles worldwide. It isn't the first time Toyota is cutting down its production this year. The Japanese automaker, which sells the beloved Vios and Fortuner, has cut 40% from its initial production goals from September to October. Despite the cutbacks, Toyota says it is on track to maintain its production plans for the current fiscal year. The company expects to produce about nine million vehicles in that period.
As for when things can go back to some form of normalcy, it's harder to say. Toyota is aiming for a return to normal production numbers by December, but this depends on a variety of factors.
Toyota's plans could be spoiled if the global chip shortage continues into 2022. For now, the issue of limited semiconductor supply is affecting car manufacturers the world over.
The chip shortage is said to be caused by several factors, including supply chain difficulties and a massive jump in home electronics sales during the pandemic lockdowns. If the chip drought becomes an extended phenomenon, it could spell trouble for Toyota and the rest of the world's automakers.
On the bright side, industry experts have been predicting the end of the chip shortage to be sometime during the second half of 2022. If this is the case, then Toyota could be nearing the light at the end of the tunnel.
While this is an unfortunate development for Toyota, consumers are not expected to feel the effects of the company's production cuts. Toyota is still targeting to produce over nine million vehicles this year, and that should be enough to meet the growing demand for the automaker's products.
Engine and chassis stenciling no longer a requirement according to the LTO / News
The LTO passed memorandum no. JMT-2023-2399. Engine and chassis stenciling for registration renewal are no longer needed.
BMW Philippines unveils its newest wagon: The 2023 3 Series Touring / News
SMC Asia Car Distributors Corp has unveiled the BMW 3 Series Touring in three different variants for the Philippines.
The OMODA 5 EV is also coming to the Philippines later in 2023 / News
The OMODA 5 EV will be coming to the Philippines in the fourth quarter of 2023 along with the OMODA and JAECOO brands.
Cheapest cars under P700,000 in the Philippines
Oct 20, 2022
First car or next car, the Ford EcoSport is a tough package to beat
Jun 18, 2021
Car Maintenance checklist and guide – here’s everything you need to know
Earl Lee · Jan 12, 2021
Most fuel efficient family cars in the Philippines
Bryan Aaron Rivera · Nov 27, 2020
2021 Geely Okavango — Everything you need to know
Joey Deriquito · Nov 19, 2020
Family cars in the Philippines with the biggest trunks
Jul 20, 2022
Head to head: Toyota Rush vs. Suzuki XL7
Joey Deriquito · Oct 28, 2020
Why oil changes are important for your car
Earl Lee · Nov 10, 2020
2021 Kia Stonic — What you need to know about it
Joey Deriquito · Oct 16, 2020
Top 7 tips for buying a used car in the Philippines
Joey Deriquito · Nov 26, 2020