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Business Daily
Business Daily
Toyota dealer CFAO Motors Kenya has cut its annual sales target by 20 percent or 748 units this year due to a semiconductor chip shortage that will see it reduce vehicle production. The company projects it will sell 3,000 vehicles in the year to December, down from 3,748 units it recorded last year, citing an inability to meet demand. “It is coming down because currently, we have a few challenges all over such as getting the chips,” Arvinder Reel, the firm’s managing director, said of the anticipated sales decline. “At this point in time, we cannot meet our demand. We have more demand than sup…