Toyota's global output goes down 26% in Oct amid shortage of semiconductors

Toyota Motor Corp.’s global output dropped by more than a quarter in October from a year earlier, as a shortage of semiconductors and other parts continued to impact automakers.

 

The world’s No. 1 carmaker said Monday it produced 627,452 vehicles in October, down from 845,107 units a year earlier.

 

Global sales also fell 20% for the month to677,564 units.Japanese automakers have struggled to restore production levels due to outbreaks of coronavirus cases in Southeast Asia as well as a shortage of parts and semiconductors.

 

The chip crunch is projected to cost the auto industry $210 billion in lost sales this year.