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Toyota's global vehicle output drops again; annual target in doubt

July production fell 8.6%, missing its target for the fourth month in a row

Toyota cars line up in Japan's Aichi prefecture as they wait to be put on a ship and sent overseas. (Photo by Yuki Nakao)

(Reuters) -- Toyota Motor said on Tuesday its July global vehicle production fell 8.6% year-on-year, missing its target for four straight months, as COVID outbreaks, severe weather and a recall probe on top of a persistent chip shortage hurt output.

The world's largest automaker by sales produced 706,547 vehicles worldwide last month, below its target of around 800,000 units and the year-ago output of 773,135.

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