Toyota Motor Corp said on Thursday IT plans to build about 800,000 vehicles worldwide in October, about 100,000 fewer than its average monthly production plan, due to a semiconductor shortage.
The world's largest automaker said last month that IT aims to produce about 900,000 vehicles a month between September and November, IT Home has learned. Now, Toyota expects to produce an average of about 850,000 vehicles a month from October through December.
Still, Toyota left unchanged its global vehicle production target of 9.7 million for the current fiscal year through March 2023. Under its October production plan, Toyota will suspend production at 10 production lines at seven domestic plants for up to 12 days.
Separately, Murat Aksel, head of procurement on Volkswagen's board of directors, said that it does not expect chip shortages to end in 2023 and that Volkswagen is preparing for a "new normal" of supply chain disruptions, according to German magazine Autoweek. But the global average lead time -- the time a chip takes from order to delivery -- was 26.8 weeks in August, a day shorter than July's average and the third straight month of contraction, according to research data from Hainer International.