Huawei Unveils Pura 70 Series to Rival Apple's Dominance in China's Smartphone Arena 
The Original Mouthful: McDonald's Australia Revives Legendary Big Mac Chant with a Tech Twist 
Vladimir Putin’s gold strategy explains why sanctions against Russia have failed 
Narendra Modi’s economy isn’t booming for India’s unemployed youth 
Mentorship is key to improving social and economic outcomes for Black youth 
Polestar to Launch Polestar 4 Pure EV in South Korea 
Google Fired Workers Protesting Over Cloud Contract Deal With Israel 
Digital trade protocol for Africa: why it matters, what’s in it and what’s still missing 
EU enlargement: What does the future hold? 
Industry shutdowns are messy and painful: 4 lessons Australia’s coal sector can learn from car-makers about bowing out 
Hyundai Halts Advertising on X Amid Antisemitism Row 
Canada Set to Enforce OECD Crypto Tax Standards by 2026 
Economists say Australia shouldn’t try to transition to net zero by aping the mammoth US Inflation Reduction Act 
Industrialisation is still vital to economic development but some countries are struggling to reap its benefits 
Why China’s economy has hit a wall 
Toyota Motor Corp. announced this week that it would be cutting down its global production of automobiles by 100,000 to about 850,000 as the chip shortage continues to bite. The Japanese automaker is imposing the cuts starting next month.
Toyota Motor said on Tuesday, May 24, that the number of vehicle production will be reduced in June. However, it was noted that the company did not revise its manufacturing estimate of around 9.7 million vehicles by March 2023, worldwide.
According to Reuters, the Japanese carmaker also shared that aside from the global cuts in production, it will also be suspending domestic factory lines because of parts supply shortage brought about by the continued COVID-19 lockdown in Shanghai, China.
These additional factory suspensions may last for up to five days and will begin on Wednesday, May 25 and on June 3. Toyota said a total of 16 lines at 10 factories are affected by the suspension for May and June.
“Due to the impact of semiconductor shortages, we have adjusted our production plan by tens of thousands of units globally from the number provided to our suppliers at the beginning of the year,” Toyota said in an announcement that was posted on its website. “The shortage of semiconductors, the spread of COVID-19 and other factors are making it difficult to look ahead, but we will continue to make every effort possible to deliver as many vehicles to our customers at the earliest date.”
At any rate, The Hill further reported that while there will be interruptions in the production of its automobiles, it is still expecting to build about 850,000 units of vehicles from June to August.
Toyota Motor apologized for the suspensions of production because it knows this move will cause inconvenience to both its customers and suppliers. Still, the company will do its best to prevent more interruptions in the future and return to the normal work mode.
Meanwhile, it was noted that Toyota Motor’s announcement came just a week after it reported a decline in profits by 31% in the January to March first quarter from the year before. The company already issued a warning before that the pandemic may cause a prolonged global parts shortage that will hurt most business operations.
