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Toyota has so far managed to avoid the impact of chip shortages on car production
eleven.02.2021 [07:24],
Alexey Razin

The largest automakers in the US and Europe complain about the shortage of semiconductor components, echoed by many Japanese companies, but the leader of the national industry Toyota Motor claims that so far it avoids a significant impact of the shortage of chips on vehicle production.

Image source: Toyota Motor

The corresponding confessions, as noted by the Nikkei Asian Review, were made at the quarterly reporting conference from the mouth of the corporation’s CFO Kenta Kon. Toyota is also having trouble getting the chips, he said, but that doesn’t mean it is cutting production. On the contrary, according to the results of the fiscal year, which ends in March, Toyota expects to sell 9.73 million vehicles, which is 310 thousand units more than it was planned in November. The company also raised its revenue forecast by 1.9% compared to November data. Net profit for the year, although it will decrease by 6.7% compared to the previous reporting period, in projected terms will increase by 33.8% to $ 18.1 billion compared to November estimates.

Toyota tries to keep a stock of components in warehouses for a production period of one to four months, it discusses its production plans for three years in advance with suppliers. The company’s suppliers are currently holding video meetings with suppliers up to ten times a day, constantly clarifying the situation with the shipment of components. Already in September last year, the company managed to return to sales volumes as before the start of the pandemic. In the period from January to December 2021, she expects to sell 9.2 million vehicles. According to the financial director of Toyota Motor, the deficit of chips will be eliminated by the summer of this year.

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