Japan's Toyota Says Domestic Output In Fiscal Year 2021 Lowest In 45 Years

Japan's Toyota Says Domestic Output in Fiscal Year 2021 Lowest in 45 Years

Japan's top automaker Toyota on Wednesday announced that in fiscal year 2021 it produced 2.76 million vehicles inside Japan, which is the lowest in 45 years

TOKYO (Pakistan Point News / Sputnik - 27th April, 2022) Japan's top automaker Toyota on Wednesday announced that in fiscal year 2021 it produced 2.76 million vehicles inside Japan, which is the lowest in 45 years.

"Worldwide production in March 2022 reached a record high for a single month at approximately 870,000 units (102.8% YoY) resulting from strong overseas production, although production inside of Japan fell below the previous year's level due to the impact of semiconductor shortages, system failures at domestic suppliers, and operation suspensions caused by the Fukushima Prefecture offshore earthquakes and other factors," Toyota said in a statement.

The overall production from April 1, 2021 to March 31, 2022 expanded to 8,569,549 vehicles, up 4.7% compared to the previous year. Meanwhile, production in Japan amounted to 2,760,843 vehicles, which is a decrease of 5.4% year-on-year, the release says.

According to Kyodo news agency, this is the lowest production output in 45 years.

At the same time, production outside of Japan showed first increase in 5 years and totaled 5,808,706 vehicles, an increase of 10.3%.

In March, Toyota said it would stop 18 of 28 domestic production lines after an earthquake disrupted supplies of automotive parts and accessories. A 7.4 magnitude quake struck northeastern Japan, killing at least four people and injuring over a hundred others. It hit off the coast of the Fukushima prefecture, which had been devastated by a quake and a tsunami in 2011.