Carmaker's production expected to fall by 300,000 units this year
Paris — 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 the firm said on Wednesday, a much bigger hit than previously estimated.
A Renault spokesperson declined to comment. The company’s Paris-listed shares were down about 4% on Wednesday afternoon. London-based information provider IHS Markit said the shortages could cost the automotive industry about 11-million vehicles in lost production this year.
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