Toyota Halts Harrier SUV Orders Due To Production Delay: Reuters

Toyota Motor Corp TM has called off a few orders of its later mid-size crossover Sports Utility Vehicle (SUV), Harrier, due to production hurdles, Reuters reported.
The production disruption was the effect of the COVID-19 lockdown in Shanghai.
Instead, the automaker has requested its customers to shift their orders for Harrier’s improved version, expected to be released in September.
The report added that Toyota is considering the possibility of its dealers covering the price difference of 100,000 yen ($733.35) for the latest model.
About 74,000 units of Harrier were sold domestically last year, the report cited the Japan Automobile Dealers Association.
Related: Toyota Cuts July Production Citing Parts Shortage
The surge in the COVID-19 cases in China and the resulting lockdown have severely affected business activities, including automobile production.
Price Action: TM shares closed higher by 0.70% at $160.30 on Friday.
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