News / The chips stay down for carmakers, with no open road in sight

Shareholders in Toyota had little room for cheer last month, as the world’s largest automaker expects to miss its production target of 9m vehicles for the year.

The blame is laid mainly on a year-long shortage of semiconductors.

The company will build 700,000 cars this month, up from a year ago, but 150,000 short of target, and management can’t predict how long the shortage of chips will last.

The US Department of Commerce released a report last week which shows that the median ...