Toyota deliveries dropped 11.3% in 2020 compared to the previous year, while Volkswagen suffered a 15.2% slide.
According to UBS analysts, Volkswagen could lose out on production of 100,000 units in the first three months of the year, or roughly 4% of global quarterly output, as a result of the components shortages.
The biggest carmakers are still making money, though.
Volkswagen said last week that profits for 2020 topped $12 billion, pointing to a recovery in the second half of the year.
The company also pointed to a slight uptick in its share of the global passenger market, as well as a huge jump in purchases of electric cars and hybrids.
Toyota has not yet released its full-year financial results for 2020.
— Hanna Ziady contributed to this report.