Business
Japanese motor industry giant, Toyota saw its profits fall by 21% for the last three months of 2021 as the global chip shortage took a toll on production. The world's best-selling carmaker also cut its annual production target by 500,000 vehicles to 8.5M. Manufacturers around the world are struggling to find microprocessors for their products. Future Horizons founder and chairperson, Malcolm Penn joined us to discuss global chip shortage and its economic impacts on automakers. #ToyotaEarnings #ChipShortage #CarmakersCutProduction