Connect with us

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website. .

Business

Volkswagen’s Mexico unit says it will resume production that was hit by chip shortage

2021 06 27T185258Z 1 LYNXNPEH5Q09D RTROPTP 4 MEXICO VOLKSWAGEN - Global Banking | Finance

MEXICO CITY (Reuters) – Volkswagen AG’s Mexico unit said on Sunday it expects to restart production of three segments from next week and in July after output was curtailed by a global semiconductor chip supply crunch.

“Volkswagen de México is preparing a return to activities for its three manufacturing segments,” the company said in a statement.

Automakers including General Motors Co, Ford Motor Co and Toyota Motor Corp have cut production this year due to the shortage of semiconductor chips, which was caused by factors including a rise in demand for electronic devices during the pandemic and fast recovery in auto markets.

Volkswagen said there is a general expectation that the chip supply will improve in the second half but the company added that “possible future adjustments (to production) cannot be ruled out.”

Production of the Jetta, Taos and Tiguan models will be resumed separately and on different dates starting next week and during the month of July, Volkswagen said.

(Reporting by Anthony Esposito in Mexico City; Writing by Drazen Jorgic; Editing by Matthew Lewis)

Global Banking & Finance Review

 

Why waste money on news and opinions when you can access them for free?

Take advantage of our newsletter subscription and stay informed on the go!


By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review │ Banking │ Finance │ Technology. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Post