Toyota’s quarterly auto sales sag on computer chips crunch

By YURI KAGEYAMA
AP Business Writer

TOKYO (AP) — Toyota says its profit slipped nearly 6% in the last quarter, totaling $6.9 billion. The earnings report by Japan’s top automaker highlights the headwinds global automakers are facing in a computer chips crunch caused by the pandemic. The company said quarterly sales slipped 5%. Toyota officials acknowledge the chips problem could continue through next fiscal year. Toyota, which makes the Prius hybrid and Lexus luxury models, sold 2.5 million vehicles around the world during the fiscal third quarter. That’s down from 2.8 million vehicles the same period a year ago.