Toyota Motor Expands Plant Halts as Covid Disruptions Deepen

Toyota is facing significant production challenges due to COVID-19 outbreaks in its factories in Japan and China. The company has had to cut production by 47,000 vehicles in Japan and is experiencing similar disruptions abroad, particularly in China, where a major factory has been halted. These issues, compounded by supply chain problems like chip shortages, are affecting Toyota's ability to meet its production goals for the fiscal year. Despite these setbacks, Toyota aims to maintain high production targets for the next fiscal year.

What is the significance of the production cuts for Toyota's long-term strategy?

What are the expected production goals for Toyota for the fiscal year ending in March?