Toyota to miss targets as chip crisis drags on
Toyota is set to miss production targets as the global chip crisis drags on.
The Japanese giant had wanted to ramp up production to make up for output lost during the global health crisis.
But now it says it doesn't have enough semiconductors to do so.
A company executive said it would be "extremely difficult" to hit the 9 million vehicles targeted for the firm's financial year.
In February it expects to make 700,000 - more than last year, but 150,000 fewer than planned.
And it would need to make one million in March to hit its annual target, set back in September.
The output struggles are a major frustration, coming as demand in key markets like China rebounds.
But chips remain in short supply for carmakers thanks to supply-chain disruptions and competition from consumer electronics firms.
Toyota says it's impossible to predict how long the shortage will last.
Resurgent health worries were not factored into the firm's latest production outlook, but Toyota says they remain a concern.
