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Toyota is ready to produce more cars this year than before the pandemic.

Published: 2023-01-16

The status of the largest automaker in the world, Toyota Motor Corporation, due to the pandemic, only strengthened, because it coped with the shortage of chips better than its competitors, but it also suffered greatly from interruptions in the supply of components. According to representatives of the brand, according to the results of the current year, it is ready to produce more cars than before the pandemic, but if the chip shortage cannot be overcome, then the forecast will have to be reduced by 10%.

In fiscal year 2023, Toyota Motor expects to produce 10.6 million vehicles instead of 9.2 million planned for the current one. The company's fiscal year ends in March on the company's calendar, and it has revised its plans several times throughout 2022. In 2019, it managed to produce 9.7 million cars, so the planned 10.6 million cars for the new fiscal year will clearly show an increase compared to the period before the pandemic.

True, the Japanese auto giant calls for considering that if the shortage of chips and other components cannot be completely eliminated, then the production plan for fiscal year 2023 may be reduced by 10%. One of the signs of a shortage at the end of last calendar year was that new Toyota vehicles were equipped with only one full-fledged key with smart functions instead of two. The second key is devoid of additional functions and is simpler. This measure affected 14 Toyota models sold in the domestic market of Japan. According to the company, "the situation this year is difficult to predict due to factors such as the shortage of semiconductor components and the spread of COVID-19." Throughout 2022, the company has repeatedly had to suspend the work of auto assembly lines due to a shortage of chips, and orders for the flagship Toyota Land Cruiser 300 and Lexus LX 600 were stopped on July 1 due to the inability to meet demand in a reasonable time.