the french carmaker said its production losses for the year would now be close to 500000 vehicles or more than double the 220000 units forecast in early septemberfrench carmaker renault said on friday its production losses in 2021 because of a global semiconductor chip shortage would be far larger than previously forecast but maintained its profit outlook thanks to high car pricing and cost cutsthe shortage of chips used in everything from brake sensors to power steering to entertainment systems has led automakers around the world to cut or even suspend production pushing up vehicle prices advt like its peers renault has focused production on more profitable modelsthe french carmaker said its production losses for the year would now be close to 500000 vehicles or more than double the 220000 units forecast in early septembersources close to the firm had told reuters this week that production losses would be much higher than previously forecastthe carmaker said that by the end of september its order book had hit a 15year high for the equivalent of 28 months worth of salesduring the third quarter fully electric plugin hybrid and hybrid models made up more than 31 of sales renault saidthe carmaker is on track to meet more stringent 2021 european co2 emission targets it addedrenault said higher car prices meant that despite a drop of 223 in global sales thirdquarter revenue had fallen by 134 to 898 billion euros 104 billion from 1037 billion a year earlierthe company reiterated that its fullyear operating margin would be around the same as the 28 it reported for the first half of the year that compared to a loss margin of minus 08renault said vehicle inventories had fallen to 340000 cars at the end of the quarter from 470000 a year earlieralso readrenault eyes bigger production cut as chip shortage rumbles onthe shortage of chips used in everything from brake sensors to power steering to entertainment systems has led automakers around the world to curtail or even suspend production pushing up the prices of vehiclessee more detailsnissan cuts planned output in october and november by 30 reportthe japanese carmaker has informed suppliers that it will build a total of 583000 cars during the twomonth period the nikkei said without saying where it obtained the informationsee more details reuters published on oct 22 2021 at 1125 am ist telegram facebook copy link be the first one to comment comment now comments comment now read comment 1 all comments post post find this comment offensive choose your reason below and click on the submit button this will alert our moderators to take actions reasons for reporting foul language defamatory inciting hatred against a certain community out of context spam others report join the community of 2m industry professionals subscribe to our newsletter to get latest insights analysis download etauto app get realtime updates save your favourite articles scan to download app renault chip shortage covid19 chip shortage production loss chip shortage impact on auto industry