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TOKYO (Reuters) - Japan’s second and third largest automakers, Honda Motor and Nissan Motor, will sell a combined 250,000 fewer cars in the current financial year as a global shortage in semiconductor chips hits production.
FILE PHOTO: A visitor is seen at Nissan Motor Corp. s showroom in Tokyo, Japan November 11, 2020. REUTERS/Issei Kato
The automakers made the announcement as they unveiled brighter outlooks for the financial year ending March 2021 as automobile markets, led by China, rebounded from a coronavirus-induced slump. Honda and Nissan also reported better-than-expected results for the October-December quarter.
But Honda cut its sales target by 100,000 vehicles, or 2.2%, on Tuesday to 4.5 million cars, while Nissan lowered its target by 150,000 vehicles, or 3.6%, to 4.015 million units as a chips shortage forced both companies to curb output.
Japanese automakers Honda, Nissan to sell fewer cars this fiscal - here's why - Honda Motor and Nissan Motor will sell a combined 250,000 fewer cars in the current financial year as a global shortage in semiconductor chips.
»Honda And Nissan To Sell A Quarter Of A Million Fewer Cars Because Of Chip Shortage
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Honda And Nissan To Sell A Quarter Of A Million Fewer Cars Because Of Chip Shortage
Japan s second and third largest automakers, Honda Motor and Nissan Motor, will sell a combined 250,000 fewer cars in the current financial year as a global shortage in semiconductor chips hits production.
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TOKYO: Japan’s second and third largest automakers, Honda Motor and Nissan Motor, will sell a combined 250,000 fewer cars in the current financial year as a global shortage in semiconductor chips hits production.
Read more about Honda, Nissan to sell a qtr of a million fewer cars due to chip shortage on Business Standard. Asian chipmakers including Taiwan Semiconductor Manufacturing Co are expanding production to make up for shortages, but have warned that it may take some time to crank up output