Honda and Toyota have expressed low confidence in a quick recovery from the ongoing semiconductor shortage. With Honda ending Q4 down 32% net profit due to falling sales and Toyota ratcheting down production forecast the outlook is more pessimistic than their automaker peers in Detroit. Earlier this month GM and Ford expressed confidence the pinch in chip supplies would ease, with GM expecting up to 30% and Ford projecting up to 15% more vehicles delivered to dealers this year.
Feeling the Pinch: Toyota was the sales leader in the US for 2021, but with the pandemic dragging on they, and their fellow Japanese automakers, are beginning to feel the pinch. No forecasts have been made public beyond April 2022 at this time.
Telling it like it is - Somebody show Honda and Toyota around the Pinch Party since the rest of us have been here a while now…