Toyota to fall short of annual production plan amid chip shortage

Japanese car group unable to make its target of 9.7 million units

20221021 Toyota

Toyota Motor's global production for the fiscal year ending March 2023 will fail to reach its planned 9.7 million units. In the two previous years, it produced 8.18 million and 8.56 million units. © Reuters

Nikkei staff writers

NAGOYA -- Toyota Motor announced on Friday that its global production volume for the fiscal year ending March 2023 will be lower than its planned 9.7 million units due to semiconductor shortages.

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