Takashi Miyao, a researcher at automotive industry consultant Carnorama, said COVID infection rates in southeast Asia are dropping dramatically and concerns about production risks are easing. “It looks like the industry is emerging from a tunnel,” he said.
Toyota did not confirm the production increase. “Nothing has yet been decided about production plans beyond November,” a Toyota spokesperson said.
Toyota had hardened its supply chain against disruptions after the 2011 earthquake that devastated Japan’s northeast coast. The company was the last of the major automakers to revise down production plans because of parts shortages.
The pandemic forced component factories to close while also driving up demand for semiconductors that automakers needed as people forced to stay home bought tablets and other electronic devices.
With too few parts, automakers have been unable to take advantage of a rebound in demand for cars in key markets such as China. Vehicle sales there in September dipped by a fifth from a year earlier.
