In , Toyota overtook Volkswagen to become the global number one car seller. An over-reliance on volume growth could negatively affect Toyota's credit metrics. However, we believe this risk is minimal in view of Toyota's strategic focus on profitability and its record of rigorous cost control. It also aims to sell only hybrid and new-energy vehicles in China, including electric vehicles, plug-in hybrids and fuel-cell vehicles, by This ensures compliance with increasingly strict environmental regulation worldwide and should help Toyota maintain its technological competitiveness against rivals, such as Volkswagen, which are aggressively increasing investments in electric vehicles.
The continued spread of Covid globally remains a threat to automakers' recovery. Kellogg files lawsuit against its striking cereal workers. Ships bound for L. All Sections. About Us. B2B Publishing. Business Visionaries. Hot Property. Times Events. Times Store. Though it looks like the industry might be reaching the end of the tunnel, and Toyota is pushing to get back in the swing of things. Toyota is one of several automakers forced to limit its production of new vehicles due to the global chip shortage.
However, Reuters is reporting that due to increased shipments from suppliers that were hampered by the pandemic, Toyota is looking to restart some of its paused production by December According to sources that spoke with Reuters, Toyota believes it can recover a third of the output it lost to dwindling supplies such as the chip shortage.
In September , the Japanese automaker reduced its production target for its fiscal year ending in March to 9 million vehicles which is down , from the previous year. Toyota cited a rise in coronavirus COVID infections at its plants in Malaysia and Vietnam, in addition to the global chip shortage as reasons for its reduced target.
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