Toyota announced last week that it would reduce production. This was due to two factors: resurging COVID-19 infection around the globe and a tight production capacity.
According to AutoForecast Solutions’ most recent report, 481,707 additional vehicles were taken out of production plans because microchip shortages.
Toyota was responsible for 10 of the largest factory closings in North America and Japan, as well as affected plants across China, Japan, and North America.
AFS estimates that 6442,000 cars have been lost worldwide due to disruptions in the supply chain. In recent weeks, the situation has gotten worse due to higher COVID-19 numbers in Southeast Asia. This problem recently caused the closure of a large semiconductor plant in Malaysia.
Asia’s factories were responsible for the greatest number of vehicle production reductions. More than 215,000 more cars and trucks were cut as a result. North American assembly plants came in second with over 148,000 reductions since the week before.
AFS predicts that industry will eventually lose 7.65 million cars to microchip shortage.
Source: AutoForecast Solutions Inc. autoforecastsolutions.com
Publication Date: Mon, 30 August 2021 at 06:56:30 +0000