News and Events

Japanese automaker Toyota this month added to its production cuts amid continued semiconductor shortages in the industry. Production of 16,000 vehicles was either cancelled or delayed during the month across its North American operations, the company said. The cuts bring Toyota's estimated lost production to 193,000-208,000 vehicles in 2022, and 458,000-553,000 vehicles since August 2021. Toyota is working to determine how much production could be lost in July. The company is taking the week of 18 July off at its 14 manufacturing plants in Canada, Mexico and the US. Automaker Stellantis is taking two plants down the week of 27 June as part of its summer shutdowns, and closed two plants the week of 30 May. US auto producers are expected to lose the production of at least 254,000 vehicles in 2022, according to AutoForecast Solutions. The automotive industry is one of the largest consumers of steel products in North America.