Demand for new vehicles in the United States remains strong despite rising interest and loan rates, reported CEO Tomomi Nakamura.
Soaring material and parts costs offset benefits gained from a plunging Japanese yen and production rebound.
LMC Automotive and J.D. Power predict U.S. auto retail sales will rise in October as supply chains improve and make more vehicles available to dealerships.
Continuing chip shortage bedevils world’s biggest carmaker, which falls short of a new record.
CEO Carlos Tavares reported he expects the semiconductor supply chain to remain tight until the end of 2023.
Ongoing shortage forcing brands to trim production, especially in North America.
Analysts forecast production of about 14.7 million cars and trucks this year in North America, an increase of 12.5% vs. 2021.
The automaker has dialed down its worldwide production schedule for July by 50,000 vehicles to 800,000.
European and North American automakers cut around 25,000 additional vehicles from their production schedules last week.
The number of vehicles canceled from automaker production schedules worldwide due to the shortage now exceeds 2 million, according to AutoForecast Solutions.
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