Toyota is lowering its planned global output in November by up to 15 Percent - or 150,000 cars. That's because of a shortage of semiconductors and the power crunch in China. The Japanese automaker has already cut production for September and October by 40% as the resurgence of COVID-19 infections in Southeast Asia disrupts the supply chain for auto parts. Toyota says it's maintaining its global production forecast for the year to March at 9 million vehicles despite the latest output cuts.

meanwhile German carmaker Volkswagen has to be more efficient in shifting to the production of all-electric cars, if it wants to be on a par with Tesla. Will it have to shed many jobs to compete budget excesses.

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