Toyota July Vehicle Production Drops; Flags Uncertainty

Toyota Motor Corp's TM global vehicle production for the month of July fell 6.9% Y/Y to 835,192 units.
Worldwide sales for July declined 6.2% to 872,757 units.
The fall in production and sales is due to the impact of COVID-19 and chip shortage caused by the increased demand for semiconductors.
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The company also said it is difficult to predict when the situation will improve and that there may be disruption in production in the coming period.
The automaker had previously said that the average monthly production for the three months (August through October) would be about 850,000 units.
Toyota's production forecast for the fiscal year totals approximately 9.7 million units.
Price Action: TM shares closed at $151.77 on Monday.
Photo Via Wikimedia Commons

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