Toyota cuts 2024 global output target to 9.8 mn units

Toyota Motor Corp. has lowered its global production target in 2024 to around 9.8 million units from the initial goal of around 10.3 million units, local media reported.

The downward revision, marking the first year-on-year production fall in four years, followed a partial production halt due to the recent vehicle testing scandals and recalls in the Toyota group, Kyodo News reported, citing sources familiar with the matter.

The Japanese automaker has stopped production of three popular models, the Corolla Fielder, Corolla Axio and Yaris Cross, over the scandal, which surfaced in June, the report said.

Production of these models will resume in early September, as the transport ministry has confirmed their safety and lifted a shipment ban, Toyota said earlier this month.

The company also briefly stopped production of the Noah and Voxy minivans following fresh revelations of vehicle test misconduct in July, while it was unable to build the popular Prius hybrid car for more than two months due to a recall.

Of the projected total for 2024, around 3.2 million units will be produced in Japan, still above the 3 million units considered necessary to maintain the group's jobs in the country, the report said.

In 2023, Toyota's global vehicle production came to around 10.03 million units, crossing the 10 million threshold for the first time.

(Source: Xinhua)

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