Deliveries of Toyota’s new Land Cruiser have been delayed by as much as 2 years because of semiconductor … [+]
Manufacturing of fashions just like the Toyota Land Cruiser and Lexus NX have been hit exhausting by ongoing provide chain points in South-East Asia. This downside is industry-wide. Toyota’s international output fell by 26% in October in comparison with 2020 as a scarcity of semiconductors and different essential elements continued to trigger supply-chain hiccups for automakers.
Toyota stated this week that it produced 627,452 autos in October, considerably down from the 845,107 models it constructed this time final 12 months. International gross sales additionally plummeted 20% for the month to 677,564 models.
Japanese carmakers have tried to revive manufacturing ranges brought on by the coronavirus pandemic, however most are discovering it an uphill wrestle. In line with one {industry} supply, the chip crunch is predicted to value the automobile {industry} some $210 billion in misplaced gross sales this 12 months. Nonetheless, some firms reminiscent of Toyota and Nissan have raised their earnings outlooks, because of robust demand for brand new hybrids and compact vehicles.
A Toyota spokesperson stated that the carmaker is assured its manufacturing ranges will return to pre-pandemic numbers quickly. Japan’s No 1 carmaker is planning to supply 850,000 to 900,000 models in November, and additional increase output in early 2022. It additionally raised its annual working revenue to ¥2.8 trillion ($24.6 billion) earlier this month, up from ¥2.5 trillion introduced in August.
The provision chain hiccups have led to supply delays for fashions just like the Land Cruiser, for instance, by as a lot as two years. Order one at present and also you gained’t decide it up till mid-2023.
One commentator explains that Toyota is predicted to start out catching up with delayed manufacturing from January 2022.