Toyota warns of possible 20% drop in profits
Toyota Motor has warned that "unprecedented" increases in raw material prices could cut annual profits by one-fifth. Supply chain problems have also caught up with the world's largest automaker.
Toyota fared well in the first months of the global semiconductor shortage thanks to its large stock of chips. However, the Ukrainian crisis and COVID blockages in China have gone on for too long, which will not allow the company's resources to be restored.
