Toyota Motor Corp. announced Monday it will increase overseas production cuts to approximately 83,000 vehicles through November.
This revised figure more than doubles the previous projection of 38,000 vehicles. The automaker has notified primary parts suppliers of the updated production plan.
The cuts primarily impact vehicles destined for markets in the Middle East and Asia. Logistical disruptions stem from geopolitical instability, specifically the effective closure of the Strait of Hormuz.
Toyota previously estimated Middle East tensions could reduce operating profit by 670 billion yen ($4.2 billion).