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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsToyota Cuts Production by 100,000 as Car Industry Craters
The microchip shortage that has battered the industry prompted Toyota to say it will cut global manufacturing by 100,0000 down to 850,000. That will affect company earnings and the financial health of dealers, and it may push consumers to put off new car purchases for months, if not years.
Two years ago, it was unimaginable that a global car company would cut production. Worldwide demand for cars and light trucks was brisk almost everywhere. That demand remains brisk, but there are not enough cars.
Depending on the year, Toyota is the world's largest manufacturer, as it trades places off and on with Volkswagen. Due to this distinction, it can be claimed that its fortunes are as good a measure as any other for the short-term future of the industry.
The news means the two U.S. car companies, Ford and GM, could miss their numbers as well. The stocks of both companies have cratered due to low sales volume and suspicions that they cannot emerge as leaders in the electric vehicle part of the industry. That means current and future sales will be compromised.
https://www.msn.com/en-us/money/news/toyota-cuts-production-by-100-000-as-car-industry-craters/ar-AAXEIIH
WarGamer
(12,462 posts)Tesla will ship 1.4 Million this year.
Kingofalldems
(38,468 posts)WarGamer
(12,462 posts)850k a MONTH... so not as bad as I feared...
MSN must hire morons to write stories... Reuters still hires competent writers.
Still 10M cars a year globally.
https://www.reuters.com/business/autos-transportation/toyota-cut-global-production-by-100000-june-2022-05-24/
Red Mountain
(1,737 posts)Google suggests article has issues.
lj332000
(11 posts)Somethings off with these numbers.
enki23
(7,789 posts)WarGamer
(12,462 posts)i'm watching
phylny
(8,383 posts)since I ordered it 2/24.
I fortunately dont need it yet, but Im looking forward to getting it.