By Michael Elkins
According to reports by Reuters, car production at Stellantis' (NYSE:STLA) Sochaux car plant in France will be suspended until Saturday. The company confirmed the rumors after a union official cited semiconductor shortages as the reason for the interruption. Stellantis builds the Peugeot 3008 and 5008 at the Sochaux plant.
Reports have also come in showing that Stellantis has halted its Opel car factory in Zaragoza in northern Spain for five shifts due to a shortage of semiconductors, labor union CCOO said on Thursday.
According to a union representative, the plant announced it would suspend production from Thursday evening and resume output on Monday.
The Dodge Chrysler parent company was forced to halt production at two French factories back in June due to a chip shortage affecting one of its main suppliers.
Automakers, including Honda (NYSE:HMC) and Toyota (NYSE:TM), are also being hit by supply chain snags, hampering production. Honda announced that they will cut production by up to 40% in Japan early in September, while Toyota’s inventory levels continue to deteriorate. Toyota’s dealer body currently has a 36-hour supply of on hand inventory. For perspective, in 2019 Toyota had a 60-day supply of inventory.