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Honda Motor Co Ltd, Nissan (OTC: NSANY) Motor Co Ltd, and Toyota Motor (NYSE:TM) Corp saw their sales in China fall in September due to a semiconductor shortage in the world’s largest automotive market.
Honda reported that it sold 121,448 automobiles in China last month, a 28 percent decrease from the previous year owing to the COVID-19 outbreak and component shortages. Nissan said it sold 104,443 cars, down 26%, due to “external headwind including the ongoing pandemic, cross-industry material shortages, slowdowns, and increased competition.”
Toyota reported a 36% drop in sales to 115,000 vehicles. Separately, General Motors Co (NYSE:GM), which only publishes quarterly China sales, said it sold over 623,000 vehicles from July to September, a 19 percent decrease from the same time last year, due to “ongoing worldwide semiconductor supply chain disruption.”
Story by : Norvisi Mawunyegah