The shortage of chips will force Toyota to cut production significantly

According to a media report, the global shortage of chips will force the Japanese automaker Toyota to cut production significantly in the coming month. As the Japanese newspaper "Nikkei" reported, the company will have to cut its vehicle production by 40 percent in September. Originally, Toyota wanted to build 900,000 vehicles. Instead, only 500,000 would now be targeted, the newspaper reported, without giving any more precise sources. The company did not comment on the numbers at first, but expressed regret in a press release that it would have an impact on customers and suppliers. Accordingly, 27 of 28 production lines in the 15 Japanese plants will be temporarily shut down. The carmaker's share fell significantly and fell by almost four and a half percent. The European auto index lost up to 2.7 percent to a four-week low. Daimler sagged up to 3.2 percent. For Volkswagen it went down three percent to 192.60 euros. BMW fell by 3.5 percent to 77.08 euros. The prospect of drastic production cuts and thus lower tire demand is leaving its mark on the stock exchanges as well as on the futures markets. The futures contract for rubber for delivery in January sinks in Japan by 21.5 percent to 224.80 yen per kilogram. In Shanghai, the rubber contract traded 2.7 percent lower at 14,490 yuan per ton. Microchips play a crucial role in the electronic systems of modern vehicles. However, there are currently serious bottlenecks - intensified by the effects of the corona pandemic on international supply chains.