10/21, 5:32 PM (Source: TeleTrader)
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Nissan cuts Oct. and Nov. production 30% - report

Nissan Motor Co. has cut its plans for vehicle production in the next two months globally due to ongoing chip shortage concerns, according to a report by Nikkei on Thursday.

Nissan reportedly informed its suppliers of an updated plan to make 263,000 cars in October and 320,000 in November, which is 30% less than their previous outlook.

Despite the company's initial success in containing the shortage impacts somewhat, the ramping up of production by other car manufacturers has resulted in "tightened supplies of semiconductors."

Breaking the News / IB