October 13 (Reuters) – Italian-American automaker CNH Industrial NV (CNHI.MI) on Wednesday announced it would temporarily shut down several of its European agricultural, commercial and powertrain manufacturing plants due to disruptions in sourcing of components, including semiconductors.
The maker of agricultural machinery, utility vehicles Iveco, construction equipment and powertrains plans to shut down affected factories for eight working days this month, it said in a statement, adding that it was reviewing constantly its production schedules.
Automakers around the world are grappling with the semiconductor chip shortage amid rising post-pandemic demand, forcing several companies to reduce the pace of production in recent months. Read more
In addition, some automakers have warned that the chip crisis will last until 2022, as the industry’s early hopes for a quick resolution have long been dashed. Read more
Report by Anirudh Saligrama in Bengaluru; Editing by David Gregorio
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