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Renault projects production loss of 500,000 cars amidst chip shortage
(MENAFN) On Friday, Oct. 22 French automaker Renault stated that it projects a manufacturing loss of 500,000 cars in 2021 because of a worldwide semiconductor shortage and output shutdowns.
Over 170,000 units could not be manufactured in the July-September period, and the group sold 599,027 cars, a decline of 22.3 percent against 2020, said the carmaker’s most recent financial report.
Its sales in Europe, which make up 53 percent of its overall sales, decreased 26.3 percent, while global sales plummeted by 17.3 percent.
Group proceeds hit €9 billion (USD10.5 billion) in July-September period, plunging 13.4 percent year-over-year.
Over 170,000 units could not be manufactured in the July-September period, and the group sold 599,027 cars, a decline of 22.3 percent against 2020, said the carmaker’s most recent financial report.
Its sales in Europe, which make up 53 percent of its overall sales, decreased 26.3 percent, while global sales plummeted by 17.3 percent.
Group proceeds hit €9 billion (USD10.5 billion) in July-September period, plunging 13.4 percent year-over-year.
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