Toyota says it could produce 10.6 million vehicles by 2023, according to Reuters

TOKYO (Reuters) – Toyota Motor Co. (TYO:) said on Monday it could produce as many as 10.6 million vehicles this year, though it warned of downside risks to its outlook from the potential impact of issues such as parts supply shortages. and COVID-19.

The auto giant said it saw downside risks of about 10% on that record volume — which is not an official target for this calendar year — from risks such as chip supply shortages or the spread of the coronavirus.

A Toyota official said the purpose of disclosing the record was to make it easier for suppliers to draw up management plans.

Toyota last month maintained a production forecast of 9.2 million vehicles for the current fiscal year, which extends through March from April 2022.

In November, it cut its previous forecast of producing 9.7 million cars this fiscal year due to fallout from rising material costs and persistent semiconductor shortages.

(Reporting by Daniel Lucinc; Editing in Spanish by Javier Lira)