Chip shortage continues to hit autos - Ford idles plant, Toyota hints at missing guide
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The well publicized chip shortage has been a headwind across the auto sector for months; however, shortages appear to be cutting deeper, with Toyota (NYSE:TM) out today talking down production expectations, while Ford (NYSE:F) idles another plant as a result of the shortage.

In 2019, Toyota produced 10.7m cars, as a result of the chip shortage, the company guided to 9.3m cars in 2021; however, Toyota was forced to cut guidance further to 9.0m cars in September -- today executive Kazunari Kamakura indicated that hitting the 9.0m car guide will be "extremely difficult" and that the company could not predict how long the chip shortage would last.
Earlier in the year, Ford (F) idled several factories on the back of a semiconductor chip shortage; today a spokesman indicated that the company will idle the Flat Rock, Michigan assembly plant for a week, as shortages continue to curtail production capacity.
European vehicle production fell to a 30-year low in 2021 (OTCPK:VWAGY) as producers struggled to overcome the semiconductor shortage; paired with falling production in the US, vehicle prices (new and used) have accelerated higher at an unprecedented pace. 

As we enter 2022, all eyes are focused on the chip manufacturers (NASDAQ:INTC)
(NYSE:TSM)
(NASDAQ:MU) for indications of relief from the supply crunch.