Toyota Misses April Global Production Target

Toyota Motor Corp. of Japan said on Monday that it fell short of its April global production target due to COVID-19 outbreaks and a parts shortage. Last month, the world's largest automaker by sales produced 692,259 vehicles, a 9.1 percent decrease from the same month last year and falling short of an earlier goal of producing around 750,000 vehicles globally. The figures raise concerns about the severity of the pandemic's impact on supply chains and how it will affect production in the coming months.

Toyota cut its global production plan for June to around 800,000 vehicles last week due to the impact of COVID-19 containment measures in China, and hinted at lowering its full-year output plan of 9.7 million vehicles. It also highlighted the pain of China's supply chain crisis and lockdowns

On Monday, the automaker also reported that global sales fell 11.1 percent in April compared to the same month a year ago, to 763,708 vehicles. Domestic sales, excluding Daihatsu and Hino Motors Ltd, fell nearly 17 percent to 103,143 vehicles.