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

Benzinga Real-time News ·  2021/05/24 06:23
  • Volkswagen AG (OTC: VLKAF) (OTC: 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 (NYSE: GM), Ford Motor Co (NYSE: F) and Toyota Motor Corp (NYSE: TM), Reuters reports.
  • Nissan Motor Co Ltd (OTC: NSANY), Suzuki Motor Corp (OTC: SZKMY), and Mitsubishi Motors Corp (OTC: 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.
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