Jaguar Land Rover reported increasing retail and wholesale volumes for Q2 of FY23 (three months to 30 September 2022) but blames semiconductor shortages for ‘constrained growth’.
“This [wholesale volumes] improvement was lower than planned, primarily due to a lower than expected supply of specialised chips from one supplier which could not be readily re-sourced in the quarter,” it reported. “This was mitigated partially by further prioritisation of production to the highest margin products, while new agreements with semiconductor suppliers are expected to enable sales improvements in the second half of the fiscal year.”
Recently, Honda, Mercedes, Daimler, and Hyundai have all announced production cuts in the last year due to a chip shortage that doesn’t seem to be going anywhere, despite automakers’ best efforts.
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