Semiconductor Chip Crisis Will Hit Volkswagen's June Production At Mexican Unit: Reuters

May 24, 2021 7:23 AM | 1 min read | Make a Comment

Volkswagen AG VLKAF VWAGY expect a production hit for three segments of its Mexican unit from June onward due to the semiconductor chip crisis joining the likes of General Motors Co GM, Ford Motor Co F and Toyota Motor Corp TM, Reuters reports.
Nissan Motor Co Ltd NSANY, Suzuki Motor Corp SZKMY, and Mitsubishi Motors Corp MMTOF have also met with a similar fate.
Volkswagen will initiate maintenance work at its installations during the slack period.
The German automaker expects the crisis to ensue in the upcoming months.
Price action: VWAGY shares closed at $33.55 on Friday.