Why Toyota's Guidance Cut Could Be Bad News for EV Investors
Toyota Motor (NYSE: TM) said for months that it would be able to deliver 9 million vehicles in its current fiscal year ending on March 31 -- despite the ongoing global shortage of semiconductors.
On Tuesday, the auto giant admitted that its supply chain wrangling has fallen short. Toyota said that tight chip supplies have forced it to cut its February production plan by about 150,000 vehicles. As a result, it will fall short of that 9-million-vehicle goal for the year.
Toyota's announcement has some implications for investors in any automaker, old or new.
Source Fool.com
