Toyota to ramp up production after cutbacks driven by the COVID-19 pandemic

Toyota, one of the world's largest vehicle manufacturers, said it will increase production in December as it recovers from parts shortages caused by the COVID-19 pandemic.

The Japanese automaker announced it expects to build 800,000 vehicles globally next month, up from the roughly 760,000 it made last December.

The company also said it was maintaining its forecast of producing 9 million vehicles in the current fiscal year, which ends March 31. Toyota produced about 7.6 million units in the previous fiscal year.

"We would like to express our gratitude to all parties concerned for their immense support in helping us maintain production," Toyota said in a statement.

Automakers have recently struggled to make enough vehicles in the face of a parts shortage, particularly semiconductors. Meanwhile, soaring demand has driven prices up at the dealership.

All of Toyota's 14 plants and 28 production lines in Japan will be operating normally for the first time since May, the company announced, further helping it rev up production.

Still, the company said it was responding to a continuing shortage of some parts by attempting to shore up its supply chain.

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