Toyota Motor Corp’s (TM.US) global production rose 30% year-on-year in the quarter ended September, but it still warned that shortages of semiconductors and other parts that have disrupted the auto industry will still limit output in the coming months, Zhitong Finance APP has learned. .
It is reported that Toyota’s global car production in September hit a monthly record of about 887,700 units, a year-on-year increase of 73%. A spokesman warned that Toyota’s September production increase was unsustainable. “So it’s not quite a recovery,” he said.
According to relevant media estimates, in the July-September quarter, the company’s global sales increased by 4%.
Toyota produced 4,481,600 vehicles globally in the first half of the fiscal year that began in April, up 10% from a year earlier, but still 5% below its initial forecast.
A week ago, Toyota said it would be unlikely to meet its production target of 9.7 million vehicles this fiscal year due to scarcity of chips. The company has not yet made a new forecast.
“While Toyota recently said it will likely cut its annual production guidance of 9.7 million vehicles, its production itself has been rising from last year,” said Seiji Sugiura, senior analyst at Tokai Tokyo Research Institute.
Zhitong Finance APP has learned that Toyota has privately informed a number of suppliers in a non-public form, saying that its global production guidance for the current fiscal year will be revised to 9.5 million vehicles, and that it may lower its expectations following the supply of steel in the market.
And if Toyota is to meet its revised annual vehicle production target of 9.5 million vehicles, it will have to produce about 12 percent more in the subsequent fiscal quarter than in the previous six months. It is reported that Toyota is scheduled to announce specific fiscal quarter results next Tuesday.
Toyota said the semiconductor shortage hit Toyota’s production in Japan harder than overseas factories. Toyota’s production in Japan rose just 10 percent from a year earlier in the fiscal quarter that ended in September.