Toyota (NYSE:TM) , the world’s largest car manufacturer by volume, is likely to cut global production in September by 40% from its previous plan due to a shortage in semiconductors.
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Although Toyota weathered the initial impacts of the semiconductor supply crunch fairly well, the current resurgence of Covid-19 in Asia appears to be resulting in supplier disruptions for key components.
While the company maintained its annual sales and production targets, the cuts serve as a reminder that even Toyota, which is one of the best supply chain managers, remains vulnerable to disruption through Covid-19. Toyota stock declined by over 6% over the last two trading days.
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