$TM Cuts Production by 50,000 Cars for July

Barron’s headline: Toyota Cuts Production Again. It’s Bad News for the Stock—and Car Prices.
By Al RootFollow

Updated June 22, 2022 8:44 am ET / Original June 22, 2022 8:08 am ET

https://www.barrons.com/articles/toyota-stock-price-car-prod…

Wednesday, Toyota (ticker: TM) reduced its forecast for July output to 800,000 vehicles from 850,000 units. Parts shortages from Covid-19 lockdowns were blamed. “We at Toyota would like to again apologize for the repeated adjustments to our production plans,” the company’s news release begins.

Toyota regularly updates its production plans, Back in May, the plan was for 850,000 units a month for June, July, and August. Later in May, Toyota took out 50,000 vehicles for June. Now they have done the same for July.

June production isn’t expected to hit the 800,000 target. Toyota said this past week that 750,000 units was more likely.

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