Toyota's July global vehicle output drops again, puts annual target in doubt

Toyota Motor Corp said on Tuesday its July global vehicle production fell 8.6 per cent year-on-year, missing its target for four straight months, as COVID outbreaks, severe weather and a recall probe on top of a persistent chip shortage hurt output. The world's largest automaker by sales produced 706,547

Toyota Motor Corp said on Tuesday its July global vehicle production fell 8.6 per cent year-on-year, missing its target for four straight months, as COVID outbreaks, severe weather and a recall probe on top of a persistent chip shortage hurt output.

Production in the first four months of the current fiscal year that started in April has fallen 10.3 per cent short of its initial plan. Toyota said domestic production tumbled 28.2 per cent, outweighing record July overseas production, up 4.5 per cent, driven by a strong recovery in Europe, China and the rest of Asia.

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