Continental Cuts Outlook on Lower Global Auto Production - Bloomberg

Continental AG lowered its sales and profit guidance for the year after the semiconductor shortage and other supply-chain snarls intensified in the third quarter to further disrupt vehicle manufacturing.

Europe’s second-largest vehicle parts maker expects group sales of as much as 33.5 billion euros ($39 billion) in 2021, down from an earlier prediction of as much as 34.5 billion euros, the company said Friday. Margins are forecast to come in at as low as 5.2%.

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