Jul 6, 2021
Jaguar Land Rover downgrades forecast as global chip shortage bites
Jaguar Land Rover has lowered its forecast for deliveries to car dealers as the global chip shortage has hit the luxury motor manufacturer more than it expected. The company said on Tuesday that chip shortages would be worse than anticipated in the second quarter of its financial year, but that the situation would improve in the second half. "We now expect chip supply shortages in the second quarter ended 30 September 2021 to be greater than in the first quarter, potentially resulting in wholesale volumes about 50 per cent lower than planned," the carmaker said in a statement on Tuesday. The carmaker plans to overhaul its supply chain and negotiate directly with chip manufacturers in an effort to avoid a repeat of factory shutdowns caused by the semiconductor crisis that have plagued the business this year. Carmakers, which have long outsourced a lot of production to suppliers, have been redrawing their supply networks since the chip shortage crisis cost the industry millions of lost vehicle sales.
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