Automakers are running out of microchips—which are important parts of every electronic object. Toyota, the largest carmaker will be cutting their vehicle production, making only 540,000 cars from the original 900,000 in September. Volkswagen, the world’s second-biggest carmaker, has also announced that they would be forced to cut production. The great need for devices that use chips such as game consoles and laptops is one of the factors that caused the problem. Apple also had to delay the release of its iPhones. According to Pat Gelsinger, the CEO of chipmaker Intel, it would take “a year or two” before the situation returned to normal. President Joe Biden has called for financial support to make more microchips in the United States. Toyota’s shares decreased by 4.4% on August 19, 2021, the company’s biggest daily drop since December 2018.