Toyota Motor Lowers October Output Target by 6.3 Percent
TOKYO—Toyota Motor Corp. on Friday lowered its October production target by 6.3 percent to about 750,000 vehicles because of a shortage of semiconductors.
The announcement comes about a week after the world’s largest automaker by sales released its production target of about 800,000 vehicles globally for the next month, deepening worries that the chip shortage will continue to stymie production in the second half of the financial year to March 31.
The Japanese automaker, however, on Friday said that its 9.7 million vehicle production target for the current financial year has not changed.
The company also said it will suspend production at some production lines in Japan for up to 10 days….