Toyota shares were lower by 4% in the premarket.
The automaker had planned to make just fewer than 900,000 cars. That number has been cut to about 500,000, resulting in a temporary production shutdown as several domestic factories.
Production in North America, China and Europe will likely be scaled back by tens of thousands of units.
In addition to the chip crush, the resurgence in COVID-19 cases has disrupted parts supplies and production at car companies.
|TM||TOYOTA MOTOR CORP.||177.75||-0.92||-0.51%|
Last September, as the automaker started to recover from the initial effects of the coronavirus pandemic, Toyota produced 840,000 units.
Toyota had no immediate response to a request by Nikkei for comment.
Toyota is the world's largest automaker by sales volumes.