The world's largest automaker by sales said last week it was unlikely to meet its record 9.7 million vehicle production goal.
Toyota
The world's largest automaker by sales said last week it was unlikely to meet its record 9.7 million vehicle production goal for the fiscal year ending in March 2023 due to a scarcity of chips. It did not say by how much the target would be lowered at that time. Toyota has been receiving the electromagnetic steel sheets from South Korean steel giant POSCO Holdings Inc's factory in Pohang, which suspended production after being flooded by a typhoon in September.The Japanese company has been under scrutiny over whether it would be able to meet its annual production target of a record 9.7 million vehicles after missing interim goals during the first four months of the fiscal year that began in April.