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☆ Toyota says plant shutdown last week due to server malfunction
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: +1 min

A Toyota logo is seen during the New York International Auto Show, in Manhattan, New York City, U.S., April 5, 2023. "The system was restored after the data was transferred to a server with a larger capacity," Toyota said. The issue occurred following regular maintenance work on the servers, the company said, adding that it would review its maintenance procedures. Two people with knowledge of the matter had told Reuters the malfunction occurred during an update of the automaker's parts ordering system. Toyota restarted operations at its assembly plants in its home market on Wednesday last week, a day after the malfunction occurred.

Persons: David, Dee, Delgado, Daniel Leussink, Edmund Klamann Organizations: New York, REUTERS, Rights, Toyota, Reuters, Thomson Locations: Manhattan , New York City, U.S, Japan

☆ Federal safety regulators push to recall 52 million air bags
▼ + stars: | 2023-09-06 | by ( Chris Isidore | ) edition.cnn.com time to read: +2 min

New York CNN —Federal safety regulators are pushing to get 52 million air bags recalled due to the threat that they could explode, severely injuring or even killing a car’s occupants. About 11 million of the air bags were manufactured by Delphi under a licensing agreement with ARC. It also did not give an estimate for how many vehicles contain the air bags, since most vehicles have multiple air bags. The agency did not say how many cars may have more than one of the air bags it wants recalled. The number of air bags still in use is less than the 67 million that NHTSA estimated earlier this year.

Persons: ”, Takata, —, Ramishah Maruf Organizations: New, New York CNN, Federal, Traffic Safety Administration, ARC, Delphi, General Motors, Ford, Toyota, Hyundai, Kia, Benz, BMW, Volkswagen, NHTSA, GM, Chevrolet Traverse, GMC Acadia, “ Locations: New York, United States, Canada

☆ 3 signs the Tesla Cybertruck could be delayed yet again
▼ + stars: | 2023-09-06 | by ( Nora Naughton | ) www.businessinsider.com time to read: +4 min

But some signs are bubbling up that yet another delay could be in store for the trapezoidal truck. Here are three signs the Cybertruck could be delayed yet again:Musk is making new demands about the truck's appearanceIn a leaked internal email last month, Musk told Tesla employees that the Cybertruck needs to be "designed and built to sub 10 micron accuracy." AdvertisementAdvertisementDetails on the Cybertruck are still sparseSome Cybertruck order-holders have told Insider that they are concerned about how few details Tesla has shared with them on the Cybertruck. And this isn't just any Tesla vehicle launch: it's Tesla's entrance into the highly-competitive pickup truck market, where specs and prices are closely followed by shoppers. AdvertisementAdvertisementTesla hasn't set a date for the Cybertruck launch partyLate last month, Tesla said customers could buy invitations to a Cybertruck delivery event using 30,000 referral credits, which owners accrue through Tesla purchases.

Persons: Elon Musk, Musk, Tesla, Sam Fiorani, Fiorani, Ford Organizations: Service, Industry, AutoForecast Solutions, General Motors, Toyota Locations: Wall, Silicon

☆ US says 52 mln air bag inflators should be recalled over rupture threat
▼ + stars: | 2023-09-05 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

WASHINGTON, Sept 5 (Reuters) - U.S. auto safety regulators said Tuesday that 52 million air bag inflators produced by auto suppliers ARC Automotive and Delphi Automotive need to be recalled because they may rupture and send dangerous metal fragments flying. Initially, the NHTSA said 67 million air bag inflators were unsafe, but on Tuesday it corrected that estimate to account for "over-inclusive responses reported to the agency by certain manufacturers over the course of the investigation." GM in May agreed to recall nearly 1 million vehicles with ARC air bag inflators after a rupture in March resulted in facial injuries to a driver. Delphi Automotive, acquired by Autoliv (ALV.N), manufactured approximately 11 million of the inflators under a licensing agreement with ARC, which manufactured the remaining 41 million inflators. The NHTSA has been scrutinizing air bag inflator ruptures for more than 15 years.

Persons: David Shepardson, Jonathan Oatis, Leslie Adler Organizations: ARC Automotive, Delphi, Traffic Safety Administration, ARC, General Motors, Ford Motor, Toyota, Volkswagen, NHTSA, GM, Delphi Automotive, Autoliv, Thomson Locations: United States

DETROIT (AP) — The U.S. government is taking a big step toward forcing a defiant Tennessee company to recall 52 million air bag inflators that could explode, hurl shrapnel and injure or kill people. NHTSA is trying to force ARC to recall inflators in driver and passenger front air bags from at least a dozen automakers. Neither ARC nor the auto industry has released a full list of vehicle models with the kind of air bag inflators that have exploded. But at least 25 million of the 284 million vehicles on U.S. roads are believed to contain them. ____This story has been corrected to show that at least 25 million vehicles could have the ARC air bag inflators, not 33 million.

Persons: Kia —, inflators, Marlene Beaudoin, Beaudoin Organizations: DETROIT, Traffic, Administration, ARC Automotive Inc, ARC, NHTSA, Chevrolet, Buick, GMC, Ford, Toyota, Volkswagen, Audi, BMW, Porsche, Hyundai, Kia, General Motors, Yinyi Locations: U.S, Tennessee, Canada

☆ China's auto workers bear the brunt of price war as fallout widens
▼ + stars: | 2023-09-05 | by ( ) www.reuters.com time to read: +9 min

Millions of auto workers and suppliers in China are feeling the heat as an electric vehicle price war forces carmakers to shave costs anywhere they can. State-run China Automotive News estimates there are over 100,000 auto suppliers in the country. Suppliers typically negotiate prices once a year, but many have been pressed to lower prices on a quarterly basis in 2023, two senior executives at auto suppliers said. And in June, a group of small suppliers wrote to state-owned Changan Automobile to push back against 10% price reductions. Three months later, he told Reuters that price cuts had been more aggressive in 2023 than in previous years.

Persons: Aly, Mike Chen, Chen, carmakers, Tesla, George Magnus, Elon Musk, Mike Chen's, Li Auto, Liu, Changan Automobile's, Chen Yudong, They've, Zhang Yan, Brenda Goh, Kripa Jayaram, Marius Zaharia, David Clarke Organizations: SAIC Volkswagen, REUTERS, Rights, Shanghai, SAIC, Volkswagen, VW, Oxford University's China, China Passenger Car Association, Tesla, GM, HK, Changan Automobile, Mitsubishi Motors, Toyota, Hyundai, China Automotive, Automobile, EV, Reuters, Thomson Locations: Shanghai, China, China's, Beijing, Shenzhen, Hefei, Chongqing, Chery's, Qingdao

☆ China's Leapmotor looks to sell EV tech as it targets export growth
▼ + stars: | 2023-09-05 | by ( ) www.reuters.com time to read: +3 min

"For us, to survive, we have to achieve at least 500,000 to 1 million units of annual sales globally. The top 10 automakers in the world all have annual sales of more than 4 million units. Leapmotor had sales of almost 111,000 EVs in China in 2022, up from just over 44,000 in 2021. With European automakers scrambling to take a larger share of an EV boom in China that has largely left them behind, several have been looking at or licensing EV technology developed in China. Reporting by Zhang Yan in Munich, writing by Kevin Krolicki; Editing by Hugh LawsonOur Standards: The Thomson Reuters Trust Principles.

Persons: Zhu Jiangming, Leonhard Simon, Leapmotor, ” Zhu, Xpeng, Zhu, Zhang Yan, Kevin Krolicki, Hugh Lawson Organizations: REUTERS, Rights, HK, Reuters, Volkswagen, Toyota, Audi, SAIC Motor Corp, VW, Thomson Locations: Munich, Germany, China, Europe, Australia, New Zealand

Federal auto safety regulators moved Tuesday toward a recall of about 52 million airbag inflaters used by a dozen major carmakers, calling the parts unsafe and susceptible to rupture. The National Highway Traffic Safety Administration scheduled a public meeting on Oct. 5 on its recommendation to recall the airbags, manufactured by ARC Automotive and Delphi Automotive Systems. ARC rejected the agency’s initial findings that its airbags were defective. Of the 52 million airbags, 41 million were manufactured by ARC and 11 million were produced by Delphi using a design licensed by ARC. The airbags were variously made in China, Mexico and Knoxville, Tenn., and were used by a dozen major carmakers: BMW, Ford, General Motors, Hyundai, Kia, Maserati, Mercedes-Benz, Porsche, Stellantis, Tesla, Toyota and Volkswagen.

Organizations: Traffic Safety Administration, ARC Automotive, Delphi Automotive Systems, ARC, Delphi, BMW, Ford, General Motors, Hyundai, Kia, Maserati, Mercedes, Benz, Porsche, Toyota, Volkswagen Locations: United States, China, Mexico, Knoxville, Tenn

☆ US says 52 million air bag inflators should be recalled over rupture threat
▼ + stars: | 2023-09-05 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

WASHINGTON, Sept 5 (Reuters) - U.S. auto safety regulators said on Tuesday that 52 million air bag inflators produced by auto suppliers ARC Automotive and Delphi Automotive need to be recalled because they may rupture and send dangerous metal fragments flying. GM in May agreed to recall nearly 1 million vehicles with ARC air bag inflators after a rupture in March resulted in facial injuries to a driver. Delphi Automotive, acquired by Autoliv (ALV.N), manufactured approximately 11 million of the inflators through 2004 under a licensing agreement with ARC, which manufactured the remaining 41 million inflators. NHTSA has been scrutinizing air bag inflator ruptures for more than 15 years. Over the last decade, more than 67 million Takata air bag inflators have been recalled in the United States and more than 100 million worldwide, the biggest auto safety callback on record.

Persons: Autoliv, David Shepardson, Jonathan Oatis, Leslie Adler, Timothy Gardner Organizations: ARC Automotive, Delphi, Traffic Safety Administration, ARC, NHTSA, General Motors, Ford Motor, Toyota, Hyundai, Kia, Mercedes, Benz, BMW, Volkswagen, ARC inflators, GM, Delphi Automotive, Autoliv, Thomson Locations: United States, U.S

☆ Cybertruck buyers still don't know what they're buying or how much it costs, and they are just weeks from delivery
▼ + stars: | 2023-09-02 | by ( Nora Naughton | Tim Levin | ) www.businessinsider.com time to read: +5 min

Would-be Tesla Cybertruck buyers still don't know how much they're spending. Apart from the few remaining details listed and the occasional cryptic tweet from Musk, there isn't much information to tell Cybertruck buyers what they're getting into. Tesla Cybertruck. That makes it even more important to give loyal truck buyers some details to work with. "If you're looking to convert average pickup truck buyers to something different, that's a little harder," Fiorani said.

Persons: Tesla, Elon, Musk, It's, Cybertruck, William Huston, he's, Ed Kim, AutoPacific, Sam Fiorani, Fiorani Organizations: Morning, Ford, Chevrolet, Toyota, AutoForecast Locations: San Francisco

☆ Japan's July factory output slumps, raises pressure on manufacturers
▼ + stars: | 2023-08-31 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Issei Kato/File Photo Acquire Licensing RightsTOKYO, Aug 31 (Reuters) - Japan's factory output fell more than expected in July, signalling a rocky start to the second half of the year for manufacturers as worries mount over growth in China and the global economy. Industrial output fell 2.0% in July from the previous month, data from the Ministry of Economy, Trade and Industry (METI) showed on Thursday. Output of electronic parts and devices fell 5.1%, while that of production machinery decreased 4.8%, driving the overall decline. Among production machinery, output for semiconductor manufacturing equipment fell by 16.4%. Other data showed Japanese retail sales expanded 6.8% in July from a year earlier.

Persons: Issei Kato, Masato Koike, Satoshi Sugiyama, Kantaro Komiya, Chang, Ran Kim, Shri Navaratnam, Sam Holmes Organizations: REUTERS, Rights, Ministry, Economy, Trade, Industry, Toyota, Honda, Manufacturers, Sompo, Thomson Locations: Kawasaki, Japan, China

REUTERS/Jordan Vonderhaar Acquire Licensing RightsAug 31 (Reuters) - Even a robot invasion can't beat a slowing economy. Robot sales boomed through the pandemic, as producers scrambled to use the machines to churn out badly needed goods. Burnstein added that A3 expects the softness in robot orders to continue until the fourth quarter or early next year. In the past, they were concentrated in auto factories and their suppliers, which still make up a large share of all robot orders. Since construction projects vary in size and complexity, he said, there are spells when the robot isn't needed at all.

Persons: Jordan Vonderhaar, Nancy Kleitsch, Kleitsch, Jeff Burnstein, Burnstein, Aaron Anderson, Anderson, Timothy Aeppel, Dan Burns, Paul Simao Organizations: REUTERS, Companies, Association for Advancing Automation, Commerce Department, Reuters, Labor Department, Thomson Locations: San Antonio , Texas, U.S, North America, Phoenix, Concord , California

☆ Toyota-Supplier Denso Is Ready for the EV Era
▼ + stars: | 2023-08-30 | by ( Jacky Wong | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/business/autos/toyota-supplier-denso-is-ready-for-the-ev-era-5d839296

Persons: Dow Jones Organizations: toyota

A Toyota logo is seen during the New York International Auto Show, in Manhattan, New York City, U.S., April 5, 2023. Toyota, which restarted operations at its Japanese assembly plants on Wednesday, has seen production recovering this year. The company said its global sales had risen 8% in July from the same month a year earlier to a record 859,506 vehicles. It also reported a 15% increase in global production in that month. Toyota's global production is likely to reach around 10.2 million vehicles this year, topping 10 million for the first time, Nikkei reported late on Wednesday.

Persons: David, Dee, Delgado, Maki Shiraki, Daniel Leussink, David Dolan, Christopher Cushing, David Holmes Organizations: New York, REUTERS, Rights, Toyota Motor Corp, Toyota, Lexus, Nikkei, Thomson Locations: Manhattan , New York City, U.S, Japan, China, United States, Europe

☆ Op-ed: Why the world needs more oil, not less
▼ + stars: | 2023-08-30 | by ( His Excellency Haitham Al Ghais | Opec Secretary General | ) www.cnbc.com time to read: +3 min

If oil vanished today, these and many other vital products and services that use oil or its derivatives would vanish too. The World Energy Report for 2022, published by the UK-based Energy Institute and consulting firms KPMG and Kearney, noted that fossil fuels constituted 82% of global energy in 2022. This is comparable to OPEC's latest world oil outlook and represents a similar level to 30 years ago. The bottom line is that it is possible to invest heavily in renewables while continuing to produce the oil the world needs today and in the coming decades. Similarly, in the EU, vehicles using petrol or diesel still accounted for around half of all car sales in 2022.

Persons: BEV, BEVS Organizations: Transportation, Energy, Energy Institute, KPMG, Kearney, Toyota Prius, U.S . National Automobile Dealers Association, EU Locations: U.S, China, Paris

☆ What happened to shut down Toyota's production in Japan?
▼ + stars: | 2023-08-30 | by ( ) www.reuters.com time to read: +4 min

WHAT HAPPENED TO SHUT DOWN TOYOTA'S PRODUCTION IN JAPAN? Toyota's production has been recovering this year, so the outage could be potentially more costly than the 2022 shutdown. Toyota's production in Japan - about a third of its global output - averaged about 13,500 vehicles a day in the first half of the year, Reuters calculations showed. WHAT IS TOYOTA'S PRODUCTION AND SUPPLIER MANAGEMENT SYSTEM? Toyota's system of lean production and just-in-time parts delivery has been adopted across the auto industry and widely studied.

Persons: Taichi Ono, Wiggly, Koji Sato, Akio Toyoda, Tesla, Daniel Leussink, Satoshi Sugiyama, Kevin Krolicki, Christopher Cushing Organizations: Toyota, Kyodo, REUTERS Acquire, Kojima Industries, Lexus, Daihatsu, Hino, TOYOTA, ITS, Thomson Locations: Toyota, Aichi Prefecture, Japan, JAPAN, United States

☆ Europe's bumper Q2 puts global dividend payouts on track for record year
▼ + stars: | 2023-08-29 | by ( Marc Jones | ) www.reuters.com time to read: +4 min

This time around, the surge in global interest rates meant banks contributed half the world's dividend growth and drove a quarter of Europe's increase. At the same time, U.S. dividend growth slowed for the sixth consecutive quarter. "But the positive effect on bank margins from the end of years of ultra-low interest rates is very powerful and is driving dividend payouts". The second quarter marks a seasonal high point for Japanese dividends and payouts there rose 8.4% on an underlying basis. Its largest dividend payer, carmaker Toyota (7203.T), accounted for one third of the underlying increase with a 25% hike, despite lower profits.

Persons: Dado Ruvic, Janus Henderson, Ben Lofthouse, Lofthouse, Eli Lilly, Marc Jones, Alex Richardson Organizations: REUTERS, Companies, Global Equity, UnitedHealth Group, Intel, Blackstone, Toyota, HK, Petrobras, PETR4, Thomson Locations: Europe, Italy, Spain, Britain, Ukraine, U.S, Asia, China, Brazil, Colombia

☆ Toyota to halt operations at all Japan assembly plants due to system failure
▼ + stars: | 2023-08-29 | by ( ) www.reuters.com time to read: +2 min

Employees of Toyota Motor Corp. work on the assembly line of Mirai fuel cell vehicle (FCV) at the company's Motomachi plant in Toyota, Aichi prefecture, Japan May 17, 2018. Toyota was looking into the cause of the problem, a spokesperson said, adding it was "likely not due to a cyberattack". Toyota suspended operations at 12 of its plants from Tuesday morning, with two remaining online. Production in Japan was up 29% in the first half of the year, the first such increase in two years. Toyota's operations ground to a halt last year when one of its suppliers was hit by a cyberattack.

Persons: Issei Kato, Satoshi Sugiyama, Miyoung Kim, Kevin Krolicki, David Dolan, Christopher Cushing Organizations: Toyota Motor Corp, REUTERS, Rights, Toyota, Daihatsu, Hino, Pacific, Thomson Locations: Toyota, Aichi prefecture, Japan, China, Tokyo

☆ Veteran short-seller Jim Chanos calls soaring electric carmaker VinFast a '$200 billion meme stock'
▼ + stars: | 2023-08-29 | by ( Joseph Wilkins | ) www.businessinsider.com time to read: +2 min

Vietnamese electric carmaker VinFast has seen its shares skyrocket since it went public on August 15. Its market capitalization now stands at over $190 billion – but some investors cannot hide their disbelief. Veteran short-seller Jim Chanos called the carmaker a "$200B meme-stock" in a post on X. Monday's close saw the market capitalization of the lossmaking EV firm hit an eye-watering $190 billion – more than Ford, General Motors, and Chrysler Stellantis combined. AdvertisementAdvertisementFor veteran short-seller Jim Chanos, however, the stock is being driven by a retail investor craze and little else.

Persons: Jim Chanos, Monday's, Drew Dickson, Dickson, VinFast, Le, Thuy Organizations: Service, Ford, General Motors, Chrysler Stellantis, Vanda Research, Bloomberg, Albert Bridge Capital, Toyota Locations: Wall, Silicon

☆ Morning Bid: Strikes, system failures and a slowdown
▼ + stars: | 2023-08-29 | by ( ) www.reuters.com time to read: +3 min

The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, August 2, 2023. Workers at Toyota plants in Japan were idle, meanwhile, as a systems malfunction crippling component orders brought output to a standstill for the world's top automaker. That comes on the heels of tech woes at British air control on Monday that disrupted flights. FTSE futures suggest a positive return from a day's holiday in London, while U.S. and European futures were flat. Hong Kong's Hang Seng (.HSI) was up 2% by mid-session and mainland blue chips (.CSI300) were up 1.5%.

Persons: Tom Westbrook, Gina Raimondo, it's, Hewlett Packard, Sam Holmes Organizations: REUTERS, Staff, Workers, Chevron, Toyota, Japan's Nikkei, U.S . Commerce, Tourism Holdings, Reuters, Thomson Locations: Frankfurt, Germany, Australia, Japan, Asia, London, Beijing

☆ Stocks making the biggest moves premarket: Oracle, AT&T, Best Buy and more
▼ + stars: | 2023-08-29 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Best Buy — Best Buy rose about 1.3% after topping Wall Street's fiscal second-quarter expectations on the top and bottom lines. Heico reported revenue of $723 million for the previous quarter, ahead of the $702 million expected by analysts polled by Refinitiv. Nio — Nio's stock lost more than 6% before the bell after the Chinese electric vehicle company reported a wider-than-expected quarterly loss. The company reported $2.21 in adjusted earnings per share, while analysts were looking for $2.02 per share, according to FactSet's StreetAccount. BYD — The Chinese automaker's U.S.-traded shares rose more than 2% Tuesday premarket, a day after it announced a 204.68% jump in net profit for the first half of 2023.

Persons: Safra Catz, PDD, Heico, FactSet's, BYD, CNBC's Hakyung Kim, Tanaya Macheel, Jesse Pound Organizations: Oracle Corporation, New York Stock Exchange, UBS, Oracle, Verizon —, Verizon, Citi, Refinitiv . Revenue, FactSet . Revenue, PDD Holdings —, Refinitiv, Toyota Motor —, Toyota Motor Locations: U.S, Japan

☆ What's going on with VinFast stock? The electric vehicle SPAC has soared more than 800% since its debut and is worth more than Ford.
▼ + stars: | 2023-08-29 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

VinFast soared as much as 830% since it went public via a SPAC IPO earlier this month. The Vietnam-based electric vehicle maker released its cars on the US market earlier this year. The small float of available shares of VinFast could be the main factor behind the sharp stock rally. Vietnam-based VinFast has seen its stock soar as much as 830% since it went public via a SPAC IPO earlier this month. So why is VinFast stock so high?

Persons: it's, VinFast, MotorTrend, Faraday, Pham Nhat Vuong, Jim Chanos isn't Organizations: Service, Toyota, Ford, General Motors Locations: Vietnam, Wall, Silicon, VinFast's, VinFast

☆ Toyota to restart Japan production on Wednesday after system failure
▼ + stars: | 2023-08-29 | by ( ) www.reuters.com time to read: +3 min

SummaryCompanies Toyota suspends production at all 14 domestic assembly plantsSystem failure preventing Toyota from ordering partsCause under investigation, not likely to be a cyberattackPlants make up third of Toyota world output -Reuters calculationStock closes down 0.2%TOKYO, Aug 29 (Reuters) - Toyota Motor (7203.T) will restart operations at its assembly plants in Japan on Wednesday, after a production system malfunction brought domestic output to a halt at the world's biggest-selling automaker. The plants together account for about a third of the automaker's global production, Reuters calculations showed. Toyota's domestic production had been on the rebound after a series of output cuts it blamed on semiconductor shortages. Its Japan output averaged about 13,500 vehicles daily in the first half of the year, Reuters calculations showed. Toyota is a pioneer of just-in-time inventory management, which keeps down costs but means supply chain snarls put production at risk.

Persons: Seiji Sugiura, Satoshi Sugiyama, Miyoung Kim, Kevin Krolicki, Daniel Leussink, David Dolan, Christopher Cushing, Mark Potter Organizations: Toyota, Daihatsu, Hino, Kyodo, REUTERS Acquire, Analysts, Tokai Tokyo Research Institute, Toyota Industries, Thomson Locations: TOKYO, Japan, , Toyota, Aichi Prefecture, China

Tokyo/Hong Kong CNN —Toyota will resume operations at its Japanese assembly plants Wednesday after a 24-hour stoppage caused by disruption to its finely-tuned supply chain. “It is our understanding that the malfunction of the system was not caused by a cyberattack. The system saves warehouse space and money but is vulnerable to disruption if any link in the chain is broken. Together, Toyota’s plants in Japan account for approximately a third of the automaker’s global production, according to Reuters calculations. Last year, Toyota was forced to shut down Japanese production after a cyberattack on one of its suppliers led to a system failure and a similar issue obtaining automotive parts.

Persons: Hong Kong CNN —, ”, “ Organizations: Hong Kong CNN, Hong Kong CNN — Toyota, ” Toyota, Toyota, Volkswagen Locations: Tokyo, Hong Kong, Japan

☆ Toyota's Japan production at standstill as system failure hits assembly plants
▼ + stars: | 2023-08-29 | by ( ) www.cnbc.com time to read: +1 min

Workers of Japanese automobile giant Toyota Motor assemble vehicles at the company's Motomachi plant near Nagoya, Japan on July 30, 2018. Toyota Motor on Tuesday said it has suspended operations at all 14 of its assembly plants in Japan due to a production system malfunction, bringing domestic output to a standstill at the world's biggest-selling automaker. Toyota suspended 12 plants in its home market from Tuesday morning and added the final two from the afternoon, the spokesperson said. Toyota's domestic production had been on the rebound after a series of output cuts it blamed on semiconductor shortage. Its Japan output averaged about 13,500 vehicles daily in the first half of the year, Reuters calculations showed.

Organizations: Toyota Motor, Toyota, Daihatsu, Hino Locations: Nagoya, Japan

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