Nissan cuts planned output in October and November by 30% - Nikkei
Reuters
Published Oct 21, 2021 10:19PM ET
TOKYO (Reuters) - Nissan (OTC:NSANY) is slashing its planned global production for October and November by 30%, as it struggles with a shortage of semiconductors caused by the COVID-19 pandemic, the Nikkei business daily reported.
The Japanese carmaker has informed suppliers that it will build a total of 583,000 cars during the two-month period, the Nikkei said, without saying where it obtained the information.
"We acknowledge that the semiconductor supply shortage is still in a difficult situation," a spokesperson from Nissan said, although she declined to comment on the reduction reported by the newspaper. The company will give an update when it release its latest earnings results next month, she added.
Like other carmakers, Nissan has been forced to curtail production despite a rebound in demand in key auto markets, including China and the United States. The pandemic has both squeezed output at component suppliers and stoked demand for electronic devices that has intensified competition for chips.
Toyota Motor (NYSE:TM) Corp, the world's biggest car manufacturer, this month announced a 15% cut in November output, following reduced global production in September and October, due to a slowdown at component plants in Malaysia and Vietnam.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.