The automaker said it’s suspending production at its 14 Japan plants for various periods in August and September, citing a “parts shortage resulting from the spread of COVID-19 in Southeast Asia,” which Reuters tied to semiconductor shortfalls. (The Logic, Reuters)

Talking point: The other shoe has dropped for Toyota, after its semiconductor stockpile boosted its second-quarter U.S. sales past chip-starved General Motors for the first time. In Canada, Desrosiers Automotive Consultants said that while second-quarter auto sales increased 51.8 per cent overall, Toyota Camry sales had jumped 151.6 per cent, RAV4 sales spiked 127.5 per cent and Corolla sales surged 93.3 per cent. Toyota told The Logic it expects to make at least 60,000 fewer vehicles in North America this month, which will affect Canadian plants but isn’t expected to lead to job cuts. With the global chip supply now dwindling, chipmakers are capitalizing. U.S.-based GlobalFoundries could reportedly fetch an IPO valuation of US$25 billion, and Intel is shopping for acquisitions.