Toyota Cuts 2024 Global Output Target To 9.8 Million Units

Toyota Motor Corp. has reduced its annual global production target to approximately 9.8 million units from the previous goal of around 10.3 million, following a partial production halt due to a recent vehicle certification scandal in Japan, sources familiar with the matter said, as reported by Kyodo News.

The output reduction also comes as the automaker struggles with declining sales in China. I Photo: TOYOTA Facebook

The new target marks the first year-on-year production decline in four years, down from about 10.03 million units in 2023.

The automaker has stopped production of three popular models—the Corolla Fielder, Corolla Axio, and Yaris Cross—due to the scandal, which surfaced in June. Toyota plans to resume production of these models in early September, as the transport ministry has confirmed their safety and lifted a shipment ban, the company stated earlier this month.

The company also briefly halted production of the Noah/Voxy minivan after fresh revelations of vehicle test misconduct in July, while it was unable to manufacture the popular Prius hybrid car for more than two months due to a recall.

The output reduction also comes as the automaker struggles with declining sales in China, where it faces intensifying price competition and the market's rapid shift to electric vehicles, according to a report from Mainichi Japan.