Toyota Records Global Annual Production Record Admittedly Affected By Chip Shortage

Two concepts of the bZ Sport Crossover and bZ FlexSpace introduced to Toyota on the Shanghai Auto Show this month. (Doc. Toyota)

JAKARTA - The world's largest automaker, Toyota, managed to reach a global annual production record in the fiscal year ending in March 2023 with a total production of 9.13 million vehicles.

Despite successfully passing the production target of 9.1 million vehicles, Toyota faces challenges in production due to the ongoing chip shortage, Autonews reported on Thursday, April 27.

The worldwide shortage of chips forced Toyota to lower production targets from the initial 9.7 million vehicles to 9.1 million vehicles. However, Toyota managed to produce more vehicles than the set target even though the number was only small.

The biggest challenge Toyota is the impact of a chip shortage that has been going on for a long time. This makes it difficult for Toyota to predict its future influence. Toyota also stated that they will continue to see the impact of the global chip shortage.

Despite being affected by a chip shortage, Toyota is still able to maintain its position as the world's largest automaker by sales. Toyota managed to record global sales with a total sales of 9.61 million vehicles over the 12 months ended in March 2023, up from 9.51 million vehicles in the previous year.

In addition, Toyota also continues to be committed to developing environmentally friendly vehicles. During the first three months of 2023, Toyota managed to sell 17,473 electric vehicles worldwide, including the luxury Lexus brand.

Obviously, Toyota's electric vehicle sales figures in the first three months of this year are very positive considering that throughout 2022, Toyota has only been able to sell 24,466 electric vehicles worldwide.