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Toyota plans to make 800,000 vehicles in October as chip shortage weighs

Toyota Motor Corp (7203) said on Thursday that it aimed to produce about 800,000 vehicles globally next month, as semiconductor shortages continued to persist.

In August, the Japanese auto maker had said it sought to produce about 900,000 vehicles per month from September through November.

According to Toyota’s October production plan, production will be suspended for up to 12 days for 10 lines at 7 Japanese plants.

The company said it now expected to make nearly 850,000 vehicles per month on average from October to December.

The shares of Toyota Motor Corp closed higher for the fourth time in the past ten trading sessions in Tokyo on Thursday. It has also been the sharpest single-session gain since September 8th. The stock went up 1.40% (JPY 28.0) to JPY 2,028.0, after touching an intraday low at JPY 1,989.0. The latter has been a price level not seen since May 19th (JPY 1,971.0).

The shares of Toyota Motor Corp have retreated 3.68% so far in 2022, following a 32.30% gain in 2021.

That compares with a 5.69% year-to-date loss for the benchmark index, Nikkei 225. is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover Forex, Price Action and Social Trading.

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