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Toyota Warns of Falling Short of Output Goal on Chip Shortages

Toyota Motor Corp. warned it expects to miss its fiscal-year target of assembling 9.7 million vehicles, as a persistent shortage of semiconductors and other parts weighs on the carmaker and its global rivals. 

The world’s biggest auto manufacturer said it will produce 800,000 units in November and suspend operations at several of its plants in Japan due to the impact of supply constraints, Toyota said in a statement Friday. Of the total output, 550,000 vehicles will be exported and the rest will be for the domestic market.