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Toyota cuts production target by 300,000 vehicles due to parts and chips shortages

TOKYO - Toyota cut its annual production target by 300,000 vehicles on Friday as rising COVID-19 infections slowed output at parts factories in Vietnam and Malaysia, compounding a global shortage of auto chips. "It's a combination of the coronavirus and semiconductors, but at the moment it is the coronavirus that is having the overwhelming impact," Kazunari Kumakura, an executive at the world's biggest car maker, said after the company revised its production target. Unlike other big global automakers that were forced earlier to scale back production plans, Toyota had managed to avoid cuts to output because it had stockpiled key components along a supply chain hardened against disruption following northeast Japan's devastating earthquake in 2011. Toyota's announcement on Friday is a further sign that no part of the global car industry has escaped the affects of a pandemic that has sapped sales and is hobbling its ability to take advantage of the recovery in demand that followed the initial waves of COVID-19. Car sales in China in August fell by almost a fifth from a year earlier because there were fewer vehicles for people to buy. Toyota now expects to build 9 million vehicles in the year to March 31, rather than 9.3 million. It did not revise its 2.5 trillion yen ($22.7 billion) operating profit forecast for the business year. Adding to a 360,000-vehicle cut in worldwide production in September, Toyota said on Friday it will reduce output by a further 70,000 this month and by 330,000 in October. It hopes to make up some of that lost production before its year-end. Demand for chips has soared during the pandemic as consumer electronic companies rush to meet stay-at-home demand for their smartphones, tablets and other devices. A heavy reliance on Southeast Asian factories for parts is a headache for Toyota, but its also a problem for its rivals that have struggled with what Volkswagen has described as "very volatile and tight" chip supplies. The German carmaker has warned it may need to cut production further as a result. Ford last month shut down production at a plant in Kansas that builds its best-selling F-150 pick up because of parts supply woes, with Renault extending partial stoppages at factories in Spain. Mercedes this month said it expects chip shortages to significantly lower third quarter sales. (Reporting by Tim Kelly; Editing by Muralikumar Anantharaman and Kim Coghill) Plants/Manufacturing Lexus Toyota

Toyota offered $146.5 million to build Lexus ES in Kentucky

Toyota posted a media advisory yesterday saying that Akio Toyoda, president of Toyota, and Jim Lentz, CEO of Toyota North America, would be making a production announcement tomorrow in New York City, and Automotive News reports that the automaker will be announcing a plan to domestically produce the Lexus ES. According to the report, numerous plants are competing to build the ES in North America, and the State of Kentucky has offered the automaker up to $146.5 million to build the luxury sedan at the Georgetown, KY assembly plant.
If Georgetown gets the ES, which has been built in Japan since its debut in 1989, it would be built alongside the Toyota Camry, which is somewhat ironic since in our review of the 2013 Lexus ES350, we wrote that this ES finally says "goodbye to its Camry roots." In order to get the whole amount offered, the article states that Toyota would have to invest $531.2 million and hire 570 full-time workers at the plant, which doesn't sound all that unreasonable since the plant would require an additional 50,000 units of annual production, not to mention the fact that the Georgetown facility is already at its capacity for building the Camry.

Lexus LC 500 Aviation adds some aeronautic flair for 70 lucky owners (in Japan)

In our experience, there's a notable overlap between enthusiasts of fine automobiles and aviation. Lexus seems to think so too, which is why it is releasing a plane-themed version of its flagship sport coupe. The Lexus LC Aviation will come in both LC 500 and LC 500h form, and features an aeronautic-inspired centerpiece on the rear decklid. That would be a curved carbon fiber reinforced plastic (CFRP) spoiler that follows the trailing edge arc of the trunk, with two downturned winglets on either end. Lexus says the winglets are functional, generating a vertical vortex that smooths out the turbulence generated from airflow along the car's flanks. The result is improved yaw and steering response, comfort, and stability at high speed. The wing itself is made by craftsmen from the LFA project, which famously created and used a 3D carbon-fiber loom to weave parts of the V10 supercar's body. Part of the development was conducted with Yoshihide Muroya, an acrobatic pilot and winner of the 2017 Red Bull Air Race Championships. The rest of the package includes beautifully slim, black, 21-inch split-spoke wheels that you won't find on the standard LC. The trademark "spindle" grille has been blacked out as have the side vent moldings, and head and taillight garnish. The cabin comes in an exclusive color Lexus calls Aviation Black, while other tidbits, like an Alcantara steering wheel, shift knob and door trim, as well as saddle-colored highlights, finish off the cabin. There are no powertrain upgrades.  The only three colors are available are silver, white, and black. Alas, only 70 units will be produced for the Japanese market. It goes on sale Jan. 6, 2021.