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Toyota Plunges as Chip Shortage Forces September Output Cut

  • Production to impact almost all of Toyota’s plants in Japan
  • Delta outbreak in Southeast Asia has hurt auto-parts supply
Bloomberg business news
Toyota Production Snags 'Far Beyond Just Microchips': Exec(Source: Bloomberg)
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Toyota Motor Corp. slumped as much as 4.7% as the worsening chip shortage saw the world’s No. 1 automaker suspend output for several days at almost all its plants in Japan next month, forcing a 40% cut in production plans.

Adjustments will be made to the production operations of plants for completed vehicles in Japan due to parts shortages resulting from the spread of Covid in Southeast Asia, Toyota said in a statement Thursday. A total of 360,000 fewer cars will now be made next month. The cuts were reported earlier by Nikkei.