June's AI-picked stock updates now live. See what's new in Tech Titans, up 28.5% year to date.Unlock Stocks

Production halted at Czech Toyota plant due to parts shortage

Published 22/08/2023, 13:16
© Reuters.
TM
-

Tomas Paroubek, a spokesperson from Toyota Motor (NYSE:TM), announced Tuesday the company has halted production at their facility in the Czech Republic due to a parts supply shortage.

Local news sources have stated that the plastics supplier Novares CZ Zebrak couldn't send out parts because a big fire wrecked their production and storage spaces in Žebrák, located in the Beroun region, last week.

This situation has brought about uncertainty regarding the plant's production plans. Paroubek has acknowledged that the exact duration of the shutdown is currently uncertain.

"We had to stop production yesterday evening. This will of course have an effect on our production plan. It is not clear how long the outage will last," Paroubek said on Tuesday.

This marks the second shutdown at the plant this year. The facility, where 1,000 cars are manufactured daily, previously experienced a pause in operations back in February.

Around 60 kilometers to the east of Prague, Toyota's factory in Kolin is responsible for manufacturing the Aygo X mini crossover and the Yaris small hatchback.

This development has cast uncertainty over the plant's production plans, with Paroubek acknowledging that the duration of the outage remains unclear.

Shares of TM are up 1.72% in premarket trading Tuesday.

 

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.