Toyota had already slowed down production by 40% in September, might slow down even more in October
Supply problems for electronic components brought over by the pandemic are still in full swing
Honda, Mazda, Nissan, Suzuki and Toyota are all faced with similar issues
The effects of the pandemic are still very much present in the automobile industry, notably in Asia, where most electronic components are manufactured for all of the major automakers.
Japanese companies are also faced with factory closures and a lack of workforce because the country has seen a spike in Covid cases since July.
These issues are causing production to remain at unusually low levels (40% lower than planned output in Toyota’s case) which means orders for new vehicles are suffering massive delays.
Toyota says it will try to increase production as soon as possible in order to make up for the current underproduction with a goal to reach 9.3 million vehicles produced by March 31st.
Even with a massive boost in production, Japan’s largest car company is unlikely to match consumer demand for some of its most popular models given that customers ordering the RAV4 Prime are now expected to have to wait over two years before they can take delivery of their vehicle.
The situation is even worst for the 2022 Land Cruiser that was recently released in the US. Indeed, demand has been very high while supply shortages are mandating a very slow production rate.
These factors mean that someone who places an order today for a new Land Cruiser will have to wait for four years to drive away in their new truck according to Cars Guide.
The situation isn’t much better for other manufacturers either and an improvement in the near future seems unlikely.