Toyota cuts August NorthAm production

Japanese automaker Toyota added to its North American production cuts amid continued supply shortages, although the monthly reductions have gotten smaller.

The automaker said it lost the production of 5,000 vehicles in North America in July and expects it will lose another 7,000 vehicles in August, respectively the smallest and second smallest reductions since losses began a year ago.

The figures raise Toyota's estimated lost production for the region to 205,000-220,000 vehicles in 2022, and to 470,000-565,000 vehicles since the company began cutting output in August 2021.

Losses from semiconductor chip shortages for the entire North American auto industry this year have reached 358,000, AutoForecast Solutions estimated on 1 August. The global auto industry has been hampered by a lack of chips since early 2021.

By Rye Druzin