• Reuters

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Toyota on Friday cut its global production plan for June for the second time this week and signaled its full-year output estimate could be lowered, highlighting the pain from the supply chain crunch and lockdowns in China.

Global automakers’ production has been hit by the microchip shortage and also by China’s COVID-19 lockdowns. The reduction by Toyota — broadly seen as a bellwether for Japan Inc. — comes a day after data showed car sales in China, Europe and the United States remain weak.

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