Automaker Stellantis reports poor visibility of component supply and significant production losses, Kallanish learns from the company’s Q3 financial statement. Shipments during the third quarter of 1.131 million units were down 27% compared to Q3 2020 caused by a loss of 30% of Q3 planned production. Unfilled semiconductor orders caused a production cut of 600,000 vehicles.
In North America and Europe shipments were down 29% and 36%, respectively. In the Middle East and Africa, shipments were also down 22%.
Stellantis reports Q3 net revenues of €32.6 billion ($37.8 billion), down 14% year-on-year. At the end of September, total new vehicle inventory stood at 689,000 units.
The automaker forecasts “no further deterioration of semiconductor supply and no further significant lockdowns in Europe and US.”.
Opel, part of Stellantis, will halt production in Eisenach, Germany, until at least the end of the year because of the global semiconductor crisis and Renault forecasts a significant production loss in 2021. While the Q3 production reduction amounts to 170,000 units, Renault predicts a drop of approximately 500,000 vehicles for full-year 2021 but says that visibility on Q4 remains low.
Natalia Capra France
