Salem Radio Network News Monday, November 29, 2021

Business

Renault sees bigger production hit from chip shortage – sources

PARIS (Reuters) – French carmaker Renault expects to produce at least 300,000 fewer vehicles this year due to a global shortage in semiconductor chips, three sources close to firm told Reuters on Wednesday, a much bigger hit than previously estimated.

The supply problems would cost Renault, which is set to publish its third-quarter sales on Friday, over a third more than the 220,000 lost vehicles it forecast in early September.

A Renault spokesperson declined to comment.

(Reporting by Gilles Guillaume Writing by Sarah Morland; Editing by Mark Potter)

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