By on March 17, 2022

Following last week’s announcement where Toyota explained its need to scale back Japanese production by 20 percent this April, the automaker has outlined planned slowdowns for the foreseeable future. It’s citing all the usual problems. Countries are still employing various COVID-19 restrictions that are upending supply chains, semiconductor production for automobiles remains insufficient, and there’s a war in Eastern Europe that’s creating all-new troubles while exacerbating some of the more familiar ones. But scaling back output might not be the death sentence it sounds like.

With last year resulting in 10 million deliveries worldwide, Toyota actually managed to improve its sales against 2020’s year-over-year global production decline of 12 percent. And the last two years have also yielded enhanced profitability for the automaker, despite it having expressed repeated concerns about procuring enough components to keep popular models (like the RAV4) in stock. In 2021, Toyota saw $249.4 billion in revenue and even became the best-selling automaker in the United States, dethroning former top-dawg General Motors. (Read More…)

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