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TOKYO (Reuters) – Toyota Motor (NYSE:TM) Corp, the worlds biggest automaker by sales volume, cut its annual production target on Friday by 300,000 vehicles because of a global shortage of chips and supplies of auto parts from factories in Southeast Asia.
The Japanese car maker now expects to build 9 million vehicles in the year to March 31, it said in a press release. The Southeast Asia factories have been affected by the COVID-19 pandemic, it said.
