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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

Lexus says it's not worried about LS sales decline in face of S-Class, Model S

The Lexus LS is old. Sure, it received a refresh for model year 2013, but it hasn't had a clean-sheet redesign since George W. Bush was in office. It's the oldest vehicle in its segment, debuting in 2007, a full year before the current-gen BMW 7 Series, two years before the Hyundai Equus and Jaguar XJ and three years before the Audi A8.
This is particularly troubling as buyers flock to the heavily redesigned Mercedes-Benz S-Class, which debuted late last year, and the all-electric Tesla Model S. Despite this move, though, Lexus is (worryingly in our minds) not at all concerned.
"We don't feel it's a problem with the car," Brian Smith, VP of marketing for Lexus, told Wards Auto. "Many of the buyers in that segment want what's new and they're trying it."

2020 Lexus RC F Track Edition will be the most powerful Lexus since the LFA

Toyota and Lexus are pulling out the stops when it comes to sports cars at the Detroit Auto Show. In addition to the real, final reveal of the Toyota Supra, we'll also see a just-announced 2020 Lexus RC F Track Edition. According to a representative from Toyota it will be the most powerful Lexus offered since the LFA supercar. With the announcement of the hot RC comes a teaser image of the car. It shows the requisite giant carbon fiber wing that all hardcore track cars need. The car also appears to be painted in a matte gray, which will undoubtedly be matched with blue accents since blue and gray are the official colors of the Lexus F brand. A particularly impressive design element is how the F logo appears to be woven directly into the carbon fiber of the wing. As for how much power the RC F Track Edition will produce, we can at least guess a range while we wait for the reveal. The most powerful LFA, the Nurburgring Edition, made 562 horsepower, and the regular model made 552 horsepower. The most powerful Lexus on sale right now is the LC 500 with a 471 horsepower V8. At least 500 horsepower seems a safe bet for this special RC F, and it will probably come from a massaged version of the 5.0-liter V8 in the regular RC F and LC 500. Stay tuned for all the details when it's shown on January 14, 2019 in Detroit. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.