Automaker Toyota misses targets for the fourth straight month as global output falls again
said on Tuesday its July global vehicle production had fallen 8.6% year-on-year, missing its target for the fourth straight month, as COVID outbreaks, severe weather and a recall probe on top of a persistent chip shortage hurt output.
Toyota produced 706,547 vehicles worldwide last month, below its target of around 800,000 units and the year-earlier output of 773,135.Production in the first four months of the current fiscal year, which began in April, has fallen 10.3% short of its initial plan. Toyota said domestic production had tumbled 28.2%, outweighing record July overseas production, up 4.5%, driven by a strong recovery in Europe, China and the rest of Asia.
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