TOYOTA Motor Corp.’s global output dropped by more than a quarter in October from a year earlier, as a shortage of semiconductors and other parts continued to impact automakers. The world’s largest carmaker by volume said yesterday it produced 627,452 vehicles in October, down from 845,107 units a year earlier. Global sales also fell 20 percent for the month to 677,564 units. Like other global automakers, Toyota has been forced to cut output due to a shortage of parts and semiconductors, and lockdown measures that have slowed component production at factories in Malaysia and Vietnam, even as vehicle demand around the world rebounds from a pandemic slump. The chip crunch is projected to cost the auto industry US$210 billion in lost sales this year, according to Alix Partners. Still, automakers such as Toyota and Nissan Motor Co. have raised their earnings outlooks, with booming demand fueling higher prices and profits on automobiles. Toyota is confident that its production will get back on track soon. The carmaker is planning to manufacture around 850,000 to 900,000 units in November, and ramp up output in the latter half of the fiscal year. (SD-Agencies) | 