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Stellantis sees bigger chip hit in Q2, plans for supply chain recovery

Cons. Discr. - Autos 1074 Earnings 623 Info Tech - Tech Hardware 707 Mexico 815 Quote Watch 391

Automaker Stellantis has lost 11% of its planned production, equivalent to 190,000 vehicles, in Q1’21 due to the “global semiconductor crisis” according to CFO Richard Palmer. There’s worse to come with Mr. Palmer expecting “the Q2 impact will be more significant than Q1”. The impact can already be seen in Mexican exports of vehicles linked to the firm which dropped by 91.5% year over year in Q1’21. The firm is already looking beyond the current shortage and may pursue a mixture of strategies including improved supply chain visibility. Those include investments in supply chain visibility...

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