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Automobiles

Toyota forges ahead with 8.25m vehicle goal despite chip crunch

Automaker projects minimal impact from production cutbacks

A Toyota Motor factory in Toyota, Aichi Prefecture. The automaker does not expect a significant blow to production from the global chip crunch.

NAGOYA, Japan -- Toyota Motor is on track to produce about 8.25 million vehicles worldwide for the year ending in March, largely sticking to its previous forecast even though a global semiconductor shortage has disrupted the auto industry in recent weeks, Nikkei learned Monday.

The automaker released a forecast in November with that figure, a 6% decrease from fiscal 2019 for its Toyota and Lexus brands.

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