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Economic impact of the COVID-19 pandemic

Toyota reduces its production quota for next month by 40% due to the resurgence of COVID-19 in Asia severely impacting the company's supply chains, especially those involved in chip production. Up to this point, the company was one of the only major car manufacturers to avoid scaling back production during the pandemic. Volkswagen warns that it might also have to reduce its production quotas for similar reasons.

Chip shortage: Toyota to cut global production by 40%

Sources:  BBC News

Changes

  1. Toyota slashes its production quota for next month by 40% due to COVID-19's resurgence in Asia severely impacting its supply chains, especially those involved in chip production. Up to this point, the company was one of the only major car manufacturers to avoid scaling back production during the pandemic. Volkswagen warns it might too cut back production for the same reason.
  2. Toyota reduces its production quota for next month by 40% due to the resurgence of COVID-19 in Asia severely impacting the company's supply chains, especially those involved in chip production. Up to this point, the company was one of the only major car manufacturers to avoid scaling back production during the pandemic. Volkswagen warns that it might also have to reduce its production quotas for similar reasons.

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