The world’s best-selling carmaker has cut its annual production target by 500,000 vehicles to 8.5 million. It comes as manufacturers around the world are struggling to find enough microprocessors for their products. Japanese motor industry giant Toyota saw its profits fall by 21% for the last three months of 2021 as the global chip shortage hit production. The company said that its third quarter operating profit came in at 784.4bn yen . The chip shortage has persists for sometime for long, what is the mitigating factor ?

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