• Toyota hopes to produce 10.6 million vehicles this year.
• That number could be 10 percent lower because of ongoing supply chain problems.
• In January, the company expects to assemble 700,000 vehicles worldwide, a pace below what it needs to meet its goals.
Over the course of 2022, we reported on Toyota's production shortfalls on more than one occasion. It felt as if every month brought fresh explanations by the company as to why it could not build as many vehicles as it had forecast.
A lot of the reasons given boiled down to two big factors: the fallout from restrictions related to Covid-19, and ongoing supply chain issues within the automotive and microchip sectors.
For 2023, the company promises to make amends and reduce customer wait times for its vehicles. However, it is letting it be known that it believes 2023 will still be affected by those big challenges. Still, the tone is more optimistic.
Browse cars for sale available near you
If everything goes according to plan, Toyota will be able to assemble a total of 10.6 million units over the next 12 months. However, this figure represents a ceiling and Toyota remains realistic, especially given the experience of 2022. As such, suppliers and investors have already been informed that total volume could be 10 precent below the 2023 target.
In January, Toyota plans to produce 700,000 vehicles, including 200,000 in Japan. For several days during the month, local production of the Land Cruiser Prado, 4Runner and Lexus GX will be suspended. The overall volume forecast for 2023 has been set with minimal fluctuation in mind, but it seems clear that production will be hampered in some way during the year.
This will be something to watch closely and the fact that Toyota is sharing this information is interesting because it gives a picture of the reality on the ground, not just for the Japanese automaker, but for all manufacturers. As Toyota gets back on track, it stands to reason that most others will as well.