Continental reduces its 2021 vehicle production outlook due to chip shortage

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Corporate developments

Continental trimmed its forecast for production to rise 8 to 10%, down from a previous forecast for 9 to 12%

According to a press release on Reuters dated 5 August, German automotive supplier Continental AG cut its growth forecast for passenger and light commercial vehicle production in 2021  due to a chip supply crunch that it expects to last the entire year.

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