Chip crunch to hit Renault 2021 production harder than forecast

Renault's production losses in 2021 due to a global semiconductor shortage will be far larger than previously forecast, the French carmaker said on Friday, though it maintained its profit outlook help

During a presentation to analysts, Renault Chief Financial Officer Clotlide Delbos said the carmaker's visibility on the chip shortage in the fourth quarter was "still very poor because the information coming from suppliers is very unreliable." Delbos said the chip shortage should ease a little by the end of the year with the end of a COVID-19 lockdown in Malaysia, but said supplies will remain constrained throughout much of 2022.

When asked about other raw materials, she said Renault was not seeing shortages but was facing price increases.

The shortage of chips, used in everything from brake sensors to power steering