Salem Radio Network News Sunday, August 7, 2022

Business

Toyota’s April-June global vehicle production falls 9.8% short of initial target

TOKYO (Reuters) – Toyota Motor Corp produced 793,378 vehicles globally in June, it said on Thursday, slightly above a target it had cut twice and capping a quarter that saw the Japanese automaker slip 9.8% behind its production plan.

The world’s largest automaker by sales has seen its output hit in recent months by the impact of the global chips shortage and supply constraints from COVID-19-related lockdowns in China.

The June numbers represent a 4.6% decline from the same month last year and compared to a goal of 750,000 that had been lowered twice.

For the April-June first quarter, Toyota produced 2,120,577 vehicles, below its initial target of 2,350,000 for the three months.

(Reporting by Satoshi Sugiyama; Editing by David Dolan)

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