9.2 million Toyota's expected to be produced this year

KUALA LUMPUR: Yes, you read it just right. Toyota intends to manufacture a record number of cars this year. It plans to produce as many as 9.2 million cars globally - a 17 percent hike over 2020. This figure also surpasses the record number of cars Toyota manufactured in 2019 - by almost 2 percent.

In Japan, Toyota expects to manufacture around 3.2 million cars this year, which indicates a 9 percent hike over 2020 but a 7 percent dip compared to 2019.

Nikkei Asia reported that the Japanese automaker revealed its production vision and plan to the core suppliers. Also, Toyota production for the year seems to be influenced by the sales success it achieved in 2020. For instance, it retained record sales in China for the 8th consecutive year. The automaker also performed highly well in markets like Japan and North America.

Now, the big question is how Toyota will manage to achieve such high production targets, especially amidst the semiconductor storage? As, Toyota is one of the many auto manufacturers to have suffered from the chip issue. The suppliers are not only questioning but are also urging the company to review its production plan.

Further, an advanced auto part supplier of Toyota from Denso said, “there is no impact at the moment but the supply and demand for chips will remain tight until summer.”

Speaking to Nikkei Asia, a Toyota executive commented that, “There is no problem for this fiscal year [through March> but in the future, there are some prospects for procurement and some without.”

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