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Toyota Announces Massive Reduction in Production Target Yet Again

Toyota Motor Corp. has reduced its production forecast for the current fiscal year by 500,000 vehicles, citing continued supply chain hiccups.

The Japanese automotive giant lowered its indigenous production forecast for the fiscal year 2023 from 9.7 million units to 9.2 million units after sticking to its original goal for months. In late October, following another drop in sales, Toyota hinted at a forthcoming change to its manufacturing schedule.

In addition, the company plans to churn out around 750,000 units (250,000 in Japan and 500,000 internationally) in December, compared to its previous forecast of 850,000. It will pause operations at three Japanese production lines in Takaoka, Tahara, and Miyata for a few days.

Remarking on the development, Toyota stated:

Toyota would like to apologise again for the repeated adjustments to our production schedule due to the parts shortage caused by the spread of COVID-19, and for causing considerable inconvenience to our customers, who have been waiting for the delivery of vehicles, suppliers, and other parties involved. For the FY2023 full-year production prediction, we have accounted for future uncertainties such as the semiconductor scarcity and announced 9.2 million units. We will continue to closely analyse the supply of parts and collaborate with connected parties to consider all available actions so that we can deliver as many vehicles as possible to our clients as soon as possible.

Toyota bZ4X’s Success in Thailand

Toyota bZ4X has significantly surpassed all expectations in terms of capturing the Thai market. Toyota Motor Thailand was forced to stop accepting reservations for its new EV just 24 hours after opening the order books for the vehicle.

The company claims to have received 1,064 pre-orders for the EV online within the first hour of the order booking on November 9 at 8 pm, which increased to 3,356 by November 10 at 8 pm. This is a stark contrast to Toyota bZ4X’s lukewarm reception in Europe, the UK, and North America.

With Toyota using Thailand as its distribution hub for the ASEAN markets, experts see substantial growth in the bZ4X sales in the said markets due to an advantage in logistics.

  • Philippines doesn’t have enough charging stations yet. I’D worry if I go on a road trip as I can’t identify the next EV charging stations.
    There is no facility to find EV stations anywhere.
    They should be on Google maps or any other mapping app.

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