Toyota is the largest automaker in the world, and the Japanese brand is no stranger to the microchip crisis. The situation that the automobile industry is going through, and not only because of this problem, is really dramatic. Now, several manufacturers had better forecasts regarding the semiconductor crisis – Toyota among them – and the truth is that there is bad news in this regard.
Like almost all its competitors, Toyota is having serious problems with the supply of microchips. But the forecasts were relatively good and now, with August approaching, the Japanese brand has decided to reduce its production target for next month. This means that, as is evident, they will not receive as many microchips as they initially thought they could have. Therefore, not only are they going to reduce their production during August, but they are also going to have to stop several of their facilities in Japan.
Toyota adjusts its production downwards again due to the microchip crisis
Initially, Toyota had planned a production of 850,000 vehicles during the next month of August. However, they have just adjusted this forecast to 700,000 vehicles. According to the indications of the company itself, production is going to be reduced due to the shortage of semiconductors. A significant cut of 18% in its manufacture that, yes, for the moment will not affect annual production. At this point, Toyota continues to have a production of 9.7 million units at the end of next March of the year 2023.
Based on what Toyota itself explained, at least six production plants and nine production lines will be affected by a suspension of production. In the details, they extend to indicate that they will last between one and not less than 18 days. Because as we were advancing, not only is the pace going to slow down, but in the case of several of its facilities in Japan, production is going to stop completely for a few days. And not only because of the microchip crisis but also because of health problems.
And Toyota, of course, isn’t the only company in the industry struggling with a microchip shortage. Now, it is true that they occupy the dominant position in the global market. So their actions serve to confirm that, although it was expected that at this point the problem of semiconductors would already go through a better situation, finally the worst possible forecast has been fulfilled. Companies from the world of semiconductors, such as Intel, assure that the problems will continue until the year 2024.
However, a few days ago we were able to learn about the problems of General Motors and the company’s board considers that during the next year 2023 we will have a much better situation in the supply of microchips for the automotive sector. Be that as it may, in a context in which inflation continues to grow, it seems that the coming months – and perhaps years – are not going to be especially sweet for the sector.