Renault has warned its production will be it hit far harder by the industry’s chip shortage than the French carmaker feared just two months ago.
The company on Friday said it will produce almost 500,000 fewer vehicles this year, a significantly bigger dent in the group’s output than the 220,000 lost vehicles it predicted at the start of September.
The gloomier forecast came as Renault reported a sharp decline in third quarter sales. Revenues for the quarter were €9bn, 13.4 per cent lower than the same period a year ago, and far shy of the €11.3bn generated in the same quarter in 2019 before the pandemic struck.
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