Currently reading: Toyota profits fall 21% due to production cuts
Production forecast has also been slashed by a further 500,000 units to 8.5 million

Toyota's profits have fallen by 21% in the most recent quarter because of the long-lasting impact of the semiconductor shortage and the firm has further reduced its global sales and production forecasts. 

The Japanese manufacturing giant recorded third-quarter operating profits of 7.84 billion yen (£5bn). 

Meanwhile, its production forecast for the financial year has been cut by 500,000 units to 8.5 million, which, Toyota says, is down to the “uncertain outlook” caused by the Covid-19 pandemic and semiconductor shortages. 

Its new forecast of 8.5m

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