London | Toyota, the world’s largest car maker, will slash global production by 40 per cent as it becomes the latest vehicle manufacturer to be hit by a global shortage of microchips.
Shares in the Japanese company slumped by 4.4 per cent – their biggest one day fall in more than two years – after it said it had cut the number of vehicles it planned to make in September from 900,000 to 540,000.
