Toyota announces production plans for 2023

Toyota Motor Corp. said that its goal is to produce up to 10.6 million vehicles in 2023, which could be its highest production.

The Japanese auto giant added, however, that the final figure could be as much as 10% lower due to possible interruptions in the supply of parts.

Toyota set the goal to make it easier for its suppliers and other interested parties to plan for the required manpower and equipment capacity.

It said it set the “downside risk fluctuation range of about 10 percent” as the impact of potential shortages in parts like semiconductors “remains unclear.”

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In 2019, Toyota built more than 9.1 million units, its highest annual output.

In 2022, it built almost 8.3 million cars in the January-November period and announced its plan to build 750,000 units in December.

Parts shortages are causing prolonged curbs on production, forcing consumers to wait to buy new cars.

To deal with this problem, Toyota Communication Director Jun Nagata stated in an online interview, “We will shorten the delivery time (of parts), giving priority to the domestic market,” and vowed to work closely with manufacturers. suppliers to the automaker to minimize the impact of parts shortages.