Even as the market works to overcome chip shortage that hampered production, Toyota Motor Corp. reported on November 29, 2022, a 23% increase in its global car output in October 2022, exceeding its target for the third consecutive month. While China battles widespread COVID-19 outbreaks and imposes restrictions and lockdowns, Toyota Motor Corp continues to experience supply chain delays. The light vehicle production among the top nine countries – the US, the UK, China, Japan, India, Canada, France, Thailand, and Indonesia – has been the highest in Japan in 2022, followed by China, the US, Thailand, Canada, France, the UK, and India.
Due to pandemic-related lockdowns, Toyota Motor Corp announced on November 29, 2022, that it was altering some activities in China. Toyota lowered its yearly target earlier in November 2022 as it confronts rising prices of material and a lingering shortage of chips or semiconductors.
At the time, the global scarcity of auto chips is forecast to continue because chipmakers prioritized supply for electronic products, while natural disasters, COVID-19 lockdowns, and manufacturing disruptions hindered a rebound in automotive semiconductor supplies.
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