The largest car manufacturer in the world in terms of sales, on Tuesday, warned of the continued difficulty of predicting the future after it recorded the fourth semester decrease in a row in its profits, indicating the strength of the opposite factors of the activity it faces.
The company has surpassed the worst stage, according to Kazunari Kumakura, the group’s purchasing director, but “this is not always a circumstance in which we acquire the complete supplies.”
He said, “I don’t know when the shortage of chips will end.
The company’s operational profits dropped to 562.7 billion yen (3.79 billion dollars) in the three months that ended in September, which is significantly less than the average profit estimate of 772.2 billion yen (5.25 billion dollars) made by 12 experts in a Rafnitiv survey.
Toyota sales led to the profits of 749. 9 billion yen (5. 10 billion dollars) a year ago, and the company’s profits amounted to 578. 6 billion yen (3.
(93 billion USD) for the first three months.
According to Kamakura, there is still a global shortage of vehicle chips because chip makers are prioritising the supply of electronic goods like computers and cellphones, while natural disasters, the shutdown of Kovid-19, and labour unrest have dominated the supply of car chips.
He added that the semiconductor supplies of the old type, which attracts a few capital investments at the present time, will remain scarce..
Toyota’s revenues have dropped significantly, and the firm has lowered its manufacturing targets.
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