© Reuters. Toyota (TM) Hits Previous Production Target, Warns of Continued Chip Shortage
Japan’s Toyota Motor Co. (TYO:) said Thursday that the Japanese automaker produced 9.13 million vehicles in the 12 months to March 31, missing its target by a fraction, although that target was cut twice from its initial target of about 9.7 million. . amid industry turmoil. In the previous year, the car’s production was 8.57 million.
However, the world’s largest automaker by sales warned it was still seeing scars from a long-running global chip shortage, saying it was still difficult to predict its impact going forward.
Worldwide sales for the 12 months ending in March rose to 9.61 million vehicles from 9.51 million a year earlier, setting another annual record for the company.
The company has not announced new sales or production targets for the current business year, which began in April.
The company revealed that it has so far sold 17,473 battery electric vehicles (EVs) worldwide for the first three months of 2023, compared to 24,466 battery EVs sold worldwide for the whole of 2022.
TM shares were up 2% in pre-market trading Thursday.