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Toyota cuts July global production plan by 50,000 vehicles

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Yahoo Finance autos correspondent Pras Subramanian details Toyota's plans to lower its summer production figures.

Video Transcript

DAVE BRIGGS: Supply chain issues coming for the world's number one automaker. Toyota today announcing plans to cut production. Senior autos reporter Pras Subramanian here with more details on this one. Pras, what are we learning?

PRAS SUBRAMANIAN: That's right. Kind of the chip crunch, supply crunch really biting Toyota here, 50,000 cut to production for the next month, I think, for July. And that's a pretty significant cut for them globally speaking, right? So it might affect some trucks or cars like the BRZ electric vehicle, as well as the GR Yaris, a global car. But let's put this in context here, right? So they make around 10 million cars a year, which is about 10 times more than Tesla makes, right? So it's a cut to their production, but they actually make a ton of cars, too.