A semiconductor supply crunch is forcing world-leading car manufacturers Volkswagen and Toyota to slash vehicle production. Toyota, the world’s largest carmaker, announced it will cut production by 40 percent in September. Instead of making 900,000 as planned the manufacturing giant will now produce just 500,000 cars. Likewise, Volkswagen’s parent plant in Wolfsburg confirmed that it will have to restart manufacturing at limited capacity in the coming weeks. Some models are currently unavailable for order, which will lead to further production cuts after the summer. “We currently expect supply of chips in the third quarter to be very volatile and tight,” a Volkswagen spokesperson told Reuters. “We can’t rule out further changes to production.” The carmaker said it expects the situation to improve by the end of the year and aims to make up for production shortfalls in the second half as far as possible. The news comes as Covid-19 […]