TOKYO, Aug 4 (Reuters) - Toyota Motor Corp (7203.T) posted record quarterly earnings and Honda Motor Co (7267.T) raised its annual profit forecast on Wednesday as post-lockdown sales surge, but the pair joined other automakers in warning that the global chip shortage would persist.

Toyota has suspended production at one assembly line in Guangzhou that it operates with its Chinese joint-venture partner Guangzhou Automobile Group Co Ltd (601238.SS), a person familiar with the matter told Reuters on Wednesday.

In Thailand too, Toyota, the world's largest automaker by sales volumes, had to suspend production last month at three factories due to a pandemic-related parts shortage.

Still, the company maintained its forecast to sell 8.7 million cars in the year ending March 2022 and said sales volumes in the first quarter recovered to near 2019 levels.

Honda, Japan's No.2 automaker by sales, lowered it sales volume outlook to 4.85 million vehicles from 5 million but raised its full-year forecast after swinging to a first-quarter operating profit that was double analyst expectations.

"Despite all the headwinds - from the chip shortage, to a COVID resurgence in Southeast Asia, to the slowdown in demand growth in China, as well as a sharp rise in material costs - this was a strong quarter," said Masayuki Kubota, Rakuten Securities Inc's chief strategist, referring to Toyota.

The global semiconductor chip shortage will cost automakers $110 billion in lost revenues this year, consulting firm AlixPartners said in May