Money
Is Toyota in trouble?
It’s probably one of the most well known car brands in the world but the company has missed its vehicle production targets for the fourth month in a row
The number of vehicles made has fallen by almost 9% over the last year.
One underlining reason hurting many car companies has been the pandemic, disruptions in the supply chain and chip shortages.
On top of all this, heavy rainfall in Japan has also impacted Toyota.
Toyota has made 706,547 vehicles around the world over the last month. However It’s target was to produce 800,000.
The 2022 fiscal year which started in April, shows that Toyota has fallen behind it’s targets by more than 10%.
Like many of the automakers who went on the fall during the coronavirus outbreak.
Toyota is also looking for a resurgence and aims to boost production.
And in this regard it has set its standards high for the month of September.
The car maker has announced that it expects 850,000 vehicles to be produced within a month. And this will set a record for the company.
Many automakers are looking to increase production and sales and there have been positive reports with many companies announcing that a strong recovery period has already started in Europe and Asia.
As for Toyota, it seems this is only a temporary slump, and the Japanese automaker will start meeting their targets sooner than later.
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