Supply Chain Crisis Sinks Auto Industry
Biden needs to fix this now.
New reports are indicating that major car manufacturer Toyota is cutting production of vehicles for February by 150,000 vehicles in the U.S. and 700,000 worldwide do to the simple fact that they cannot acquire semiconductors to put in new vehicles because of the supply chain crisis.
Sadly, Toyota isn’t the only car company that is dealing with this issue. Many other car manufacturers such as Mercedes and other are also having a similar problem and their new car dealerships are suffering heavily.
According to Fox Business, Unlike others however, Toyota has had far more success in dealing with the supply chain issues and is expected to build somewhere around 800,000 new vehicles this month. It is expected to be their best ever performance for the month.
The supply chain crisis is currently bogged down do to a number of issues such as the unemployment shortage, omicron variant, high gas prices, President Biden’s leadership and more.
