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).