Porsche may need to adjust production cuts over chip shortage

Volkswagen’s luxury sports car unit Porsche AG may need to adjust production to reflect the continued shortage of automotive chips, Handelsblatt reported.

“We cannot rule out that we will reduce the volume of some models in the near future,” the company was quoted as saying by Handelsblatt.

The lack of semiconductors, which has roiled the global car sector, has caused other automakers to cut their production.

The chip shortage, which has hit automakers worldwide, emerges from a confluence of factors as carmakers, which closed plants for two months during the COVID-19 pandemic last year, rival against the sprawling consumer electronics industry for chip supplies.