TOKYO — Toyota is scaling back production in Japan for the next three months as it deals with a chip supply shortage.
The carmaker is also dealing with a supply shortage with other parts.
Starting in April, Toyota will cut back on production by 20%, then 10% in May and 5% in June.
“We will continue to do our best to deliver vehicles to our customers as soon as possible,” said Shiori Hashimoto, a spokeswoman for Toyota.
Toyota’s announcement comes after it had already slashed production in 2021 by 500,000 vehicles.
The world’s best-selling carmaker also reported a 21% fall in profits during the last quarter of 2021.
Other carmakers, including Volkswagen, General Motors, Ford, Nissan, Daimler, BMW have also had to scale back production recently.