TOKYO (ADAMS) – Toyota is cutting production of its vehicles by 40-percent because of the global chip shortage.
It’s the last major automaker to make cuts because it had stockpiled microchips after a 2011 earthquake and the Fukushima nuclear disaster.
The company says it expects to make nine-point-three million vehicles and plans to sell eight-point-seven of them by the end of March. The cuts will be coming from plants in Japan, the U.S., China, Europe and other Asian countries.
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