Toyota Motor Corp. said Monday it aims to produce as many as 10.6 million vehicles in 2023, which could be its highest output.
The Japanese auto giant added, however, that the final figure could be as much as 10 percent lower due to potential disruptions in the supply of parts.
Toyota set the target to make it easier for its suppliers and other stakeholders to make plans regarding the required manpower and equipment capacity.
It said it set the "downward risk fluctuation range of approximately 10 percent" as the impact of potential shortages in parts such as semiconductors "remains unclear."
In 2019, Toyota produced over 9.1 million units, its biggest annual output.
In 2022, it manufactured nearly 8.3 million cars in the January-November period and announced its plan to manufacture 750,000 units in December.
Parts shortages are causing prolonged production constraints, forcing consumers to wait for new cars.
To deal with the issue, Toyota Chief Communication Officer Jun Nagata said during an online interview, "We will shorten the delivery time (for parts), prioritizing the domestic market," and pledged to work closely with the automaker's suppliers to minimize the impact of parts shortages.