Toyota Faces Decline in Global Car Production

Jawad

31 Aug 2022

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Toyota Faces Decline in Global Car Production

The global sales of Toyota Motor Company have been fallen by 8.6% on the year-over-year basis during the month of July. It is reported by a global news agency that the company is not meeting its production target for 4th consecutive month. Toyota faces decline in global car production.

The decline in sales has put a pressure on the annual production target of the company, which is 9.7 million and the chip storage and pandemic-induced production and halt in supply chain has slowed down the production of Toyota.

They also say that the global production figure of the company during first 4 months of FY 2022 from April to August 2022 have dropped by 10.3%, which is short of the original target.

Climatic Hazards

Toyota Motor Corporation faced the additional climatic issues along with supply chain crisis and chip shortage like flood and there is visible production cut of the company. Another report shows that Toyota, Honda and Nissan are at the great risk of the climate change irregularities. The report also shows that the geographical location of the production facilities of Toyota are facing issues of flooding, hurricanes, high temperature and water shortage in the future.

It is advised to the company that it will take more aggressive action to reduce the carbon footprints and Toyota pushed back against the report that the carmaker has gained great deal of negative attention for the reluctance to transition to electric vehicles (EVs) and it will tell upon the public image of the company.

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