Automakers

Renault cuts 2021 production outlook further as chip shortage shuts plants

Renault Megane E-Tech assembly Douai 2021
Production of the Megane E-Tech Electric compact, due to reach the market early in 2022, at Renault's Douai, France, assembly plant.
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By:
Staff and wire reports
October 22, 2021 07:05 AM

PARIS -- Renault Group said production losses in 2021 because of a global semiconductor chip shortage would be far larger than previously forecast, but maintained its profit outlook thanks to high car pricing and cost cuts.

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