Subaru cuts global sales outlook by 43,000 units over chip shortage

Economy

Japanese automaker Subaru Corp. said Friday it has cut its global sale outlook by 43,000 units to 868,000 vehicles and revised downward its earnings estimate in fiscal 2020 ending in March due to a global semiconductor shortage. The tight chip supply has been a headache for automakers around the world, as it has forced Toyota Motor Corp., Nissan Motor Co. and others to slash output despite recovering auto sales amid the coronavirus pandemic. Subaru downgraded its net profit outlook in the current business year to 75 billion yen ($710 million) and operating profit estimate to 100 billion yen, f...

Kyodo News

Kyodo News