TOKYO (Reuters) – Toyota Motor Corp on Wednesday said it missed its already downgraded global production target for May, falling short for the third month running, as China’s COVID-19 lockdowns and semiconductor shortages continued to bite.
The world’s largest automaker by sales said it produced 634,940 vehicles globally last month, a 5.3% decline from the same month last year and short of its target of about 700,000.
Toyota in mid-April said it planned to produce 750,000 vehicles in May but soon lowered that by 50,000 due to COVID-19 containment measures in Shanghai.
(Reporting by Satoshi Sugiyama; Editing by Christopher Cushing)
