Shares of several companies in the broader automotive industry, including Ford Motor Company F, General Motors Company GM and Nio Inc - ADR NIO are trading lower Thursday morning amid continued chip shortages, causing companies to cut and halt production.
Shares of Nio are also trading lower amid further regulatory concerns in China.
Ford manufactures automobiles under its Ford and Lincoln brands. The company has about 14% market share in the United States and about 7% share in Europe.
Ford is trading lower by 2.7% at $12.66.
GM remains the automotive market leader in the U.S. with a 17.3% share in 2020.
GM is trading lower by 3.7% at $48.94.
Nio operates in China's premium electric vehicle market. The company designs and jointly manufactures, and sells smart and connected premium electric vehicles, driving innovations in next-generation technologies in connectivity, autonomous driving, and artificial intelligence.
Nio is trading lower by 4.2% at $37.24.
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