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International

Toyota Motor cuts production target due to chip shortage

February 09, 2022 Reprints

Toyota Motor Corp. has cut its annual production target by a half a million more vehicles due to chip shortage and COVID-19-related sick leaves, MarketScreener reported citing Reuters. Toyota, which expected to build 9.3 million vehicles at the start of its business year, will now build 8.5 million vehicles in the year to March 31, down from a previous estimate of 9 million.

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Toyota Motor cuts production target due to chip shortage

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