Japan’s largest automobile company Toyota said on Monday that it missed the global production target for April due to the COVID-19 outbreak and parts shortage that slowed its post-pandemic recovery.
Toyota is the world’s largest vehicle producer by sales, produced 692,259 vehicles last month, a 9.1% drop from the same month of last year and also falling short of an earlier plan of making around 750,000 vehicles worldwide.
The severity of the pandemic hits the supply chain of Toyota, and this disruption will affect the after production in the upcoming months.
The automobile company, last week, revised its global production plan for June and downgraded it to around 800,000 vehicles. The decision taken after considering the April production target and the impact of COVID-19 measures in China signalled the possibility of lowering its full-year output plan of 9.7 million vehicles.
Also, Toyota’s global sales dropped by 11.1% in April compared to the same month of the previous year, the company said on Monday. Domestic sales, excluding sales of Daihatsu and Hino Motors Ltd, tumbled almost 17% to 103,143 vehicles.
