Toyota FY 2022 global output to fall below target due to chip crunch

Toyota Motor Corp. said Friday its total global output in the year through March is likely to fall below its initial target of 9.7 million units due to an ongoing semiconductor shortage, with the automaker expected to revise down its outlook.The company did not provide a revised target in its press release and is expected to supply an explanation when it announces on Nov. 1 its earnings results for the first half of fiscal 2022 that ended in September.The world's No. 1 automaker had said in May that it planned to produce a record 9.7 million units globally.Its global output for November is …READ FULL ARTICLE