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    MarketForces Africa » MarketForces News » Toyota to Cut Global Production of Vehicles

    Toyota to Cut Global Production of Vehicles

    Olu AnisereBy Olu AnisereJune 22, 2022Updated:February 12, 2026 News No Comments1 Min Read
    Toyota to Cut Global Production of Vehicles
    Toyota
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    Toyota to Cut Global Production of Vehicles

    Japanese carmaker, Toyota, on Wednesday announced that it would cut its global production plan by about 50,000 units compared to the figure provided to suppliers at the beginning of the year.

    Toyota said that it has decided to extend a suspension of operations at some of its plants and production lines due to the continued impact of a COVID-19 outbreak at one of its suppliers.

    The company’s global production volume for July is expected to be approximately 800,000 units, while it estimates that the figure would go up to an average of 850,000 units for July through September. READ: Toyota, InTouch Partner for Digital Payment in West Africa

    However, it said that its production forecast for the fiscal year remains unchanged at approximately 9.7 million. The company noted that there is a possibility that the production plan may be lower. # Toyota to Cut Global Production of Vehicles

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    Olu Anisere
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    Olu Anisere is a financial and economic journalist at MarketForces Africa, specialising in African macroeconomic policy, international finance, energy markets, and continental development.He covers major multilateral institutions, including the International Monetary Fund (IMF), World Bank, and the United Nations Economic Commission for Africa (ECA), providing readers with frontline reporting on policies shaping Africa's economic trajectory.Olu has reported extensively on Nigeria's fiscal and monetary policy landscape, including CBN interest rate decisions, Nigeria's bond market, FX inflows, and the country's engagement with global financial institutions.His coverage spans IMF and World Bank Spring and Annual Meetings, African Ministers of Finance conferences, and high-level economic forums where Africa's development agenda is set.His reporting captures perspectives from Africa's most influential economic voices, including Tony Elumelu, senior IMF officials, and CBN leadership, bringing institutional insight and policy depth to MarketForces Africa's readers.Olu also covers Inside Africa — tracking economic, investment, and development stories from across the continent. Olu Anisere is based in Lagos, Nigeria.

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