Shulou(Shulou.com)11/24 Report--

CTOnews.com, Oct. 22 (Reuters)-Toyota said on Friday local time that its annual car production may be lower than its initial target due to a continuing global shortage of semiconductors.

CTOnews.com has learned that Toyota failed to meet its medium-term target in the first four months of the new fiscal year, which begins in April, and there is concern about whether the company can stick to its record annual production target of 9.7 million vehicles.

Data show that Toyota's production rebounded in August, but is expected to produce about 750,000 vehicles in October and 800000 in November, below its forecast late last month to produce an average of 900000 vehicles a month from September to November.

Toyota did not say how much it would cut its annual production target, but Toyota's production in the first five months of the fiscal year was 6.7% lower than originally planned. A Toyota spokesman said the revised target would be disclosed as soon as the production outlook became clearer.

Friday's announcement dashed hopes that Japanese carmakers would ease chip shortages so that they could increase production in the second half of the fiscal year to make up for production constraints in the first half of the fiscal year.

Separately, Toyota said on Friday that it would suspend 11 production lines at eight domestic factories for two to nine days next month, affecting production of a variety of models, including the Corolla, RAV4 and Yaris.

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