Toyota Motor lowers October output target by about 50,000 vehicles

TOKYO (Reuters) – Toyota Motor (NYSE:) Corp on Friday lowered its October production target by about 50,000 to about 750,000 vehicles due to a shortage of chips.

The Japanese automaker said its 9.7 million vehicle production target for the current financial year through March 2023 has not changed.

Toyota said last week it planned to produce about 800,000 vehicles worldwide in October, about 100,000 short of its average monthly production plan, due to semiconductor shortages.

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