Tokyo (Reuters) -Toyota Motor Corp. said on Wednesday that it didn’t meet its already lowered global production goal for May. Due to China’s COVID-19 lockdowns and shortages of semiconductors, this is the third month in a row that it hasn’t met its goal.
The world’s biggest car company by sales said it made 634,940 cars all over the world last month, which is 5.3% less than the same month last year and less than its goal of 700,000.
Toyota said in mid-April that it planned to make 750,000 cars in May, but soon cut that number by 50,000 because of measures in Shanghai to stop COVID-19.
In May, production dropped by 28.5% at home, but it went up by 4.6% abroad.
The European Union was one of the places where production went up because the chip shortage didn’t hurt it as much. Thailand and Indonesia, two countries that were hit hard by COVID-19 outbreaks last year, also saw their production go up.
Still, May’s number is another sign that people are worried about whether or not Toyota will be able to meet its global production goal for the year ending in March.
So far, it hasn’t changed its goal of selling a record 9.7 million cars, but it has said that its production plan “may be lower” because there aren’t enough semiconductors and COVID-19 is spreading.
From January to May, Toyota made an average of 713,172 cars around the world each month. This was 9.7 percent lower than the initial estimate of 790,000 vehicles per month.
The automaker has cut its global production goal twice for June. The most recent estimate is 750,000 vehicles, which is approximately 12% less than the original estimate of 850,000 vehicles.