Toyota Won’t Hit Planned Production Numbers in 2022

•    Toyota makes it official: It is reducing production targets for its fiscal year ending March 2023.

•    Microchip shortages and supply chain problems will finally have gotten the better of the company's plans.

•    Toyota had hoped to produce 9.7 million vehicles in its fiscal year.

Microchip shortages and supply chain problems finally got the better of Toyota's production targets for its fiscal year ending in March 2023. After announcing several monthly production cuts during the year, the company finally confirmed that it’s had to revise its forecast downward. 

For the world's largest automaker in terms of sales, this is obviously not fantastic news, even though it’s not exactly a surprise. 

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