With the onset of the pandemic, major problems began to be experienced in the automobile industry. After the shutdowns, major problems arose in the supply of chips and automakers had to suspend production at their factories.
With the interruption of production, automobile sales fell seriously and the revenues of the brands decreased. Even the world’s largest automobile companies were affected by this situation. According to the reports, Japanese automakers also got their share from the chip crisis.
Toyota was more affected by the chip crisis than Nissan!
According to reports published by Automotive News in the past days, famous Japanese automakers Nissan and Toyota were affected by the chip crisis and supply chain problems like other auto companies. But out of the two competitors, Toyota suffered more than Nissan.
Generally speaking, Toyota is considered the world’s largest automaker and the company is known for its rock-solid profitability. However, according to the data shared at the last quarter meeting of 2021, the company’s profit rate decreased by 21 percent. The decline was reflected in global sales and production as well as profits.
Toyota is expected to lower its global sales forecast for the fiscal year ending March 31 from 8.55 million to 8.25 million. This shows that the company has been heavily affected by the chip crisis. When comparing the two, although Nissan lags behind, the company manages the process better thanks to the work done.
The company’s global net income per vehicle in Q3 2021 increased by 13 percent compared to Q3 2020. Thanks to this strong performance, the company’s revenue forecasts for the year increased significantly. These increases are thought to be due to Nissan’s good cost controls.
Nissan has largely escaped this situation thanks to the stock it has. However, both Toyota and Nissan are considering delivering fewer vehicles to their customers. Nissan slashed its previous estimate of 4.4 million cars to 3.8 million. This situation is expected to adversely affect automobile prices.
So, what are your thoughts? How do you think the chip crisis affected the auto industry? Do not forget to share your views with us in the comments section and on the SDN Forum.
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