Toyota to Cut Production by 40 Percent as Global Chip Shortage Hits Automaker
August 20, 2021
Toyota announced a 40 percent pullback in the production of cars in its Japan-based factories after it had seemed it was weathering the ongoing global semiconductor chip shortage. Karl Brauer, an executive analyst at iSeeCars.com, joined Cheddar to discuss the implications of the shortage on automakers and consumers and to share a dim prediction about its future. "You've got people like the head of Intel saying that the worst is yet to come, suggesting that it's not going to get fixed anytime soon and that we could go on for another six months to a year, easily, without this problem solved," he said.