Facing semiconductor shortages Mahindra to drop 20%-25% production | Business – Times of India Videos

Automaker Mahindra and Mahindra Ltd expect a drop of 20%-25% in September vehicle production. Semiconductor shortages are the reason as the supply chain has been disrupted due to the pandemic. Globally carmakers have been hit by chip shortages and have been warned of further pain due to stiff competition from the consumer electronics industry for semiconductor deliveries. Mahindra said its revenue and profit will be impacted in line with the fall in production volumes, while its tractor, truck, bus and 3-wheeler production was unaffected. The company will have about seven “no production days” at its automotive division plants this month, the company said in a filing. Indian automakers reported August sales on Wednesday, with most of them seeing a recovery from a year earlier.