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 story : AV company Aptiv issues revenue warning for 2021 due to COVID, supply-chain snags and chip shortage #FinanceUSA #StockMarketNEWS Self-driving technology company Aptiv Plc warned that global vehicle

@stockMarketNEWS 13 Days ago

Posted in: #FinanceUSA #StockMarketNEWS

AV company Aptiv issues revenue warning for 2021 due to COVID, supply-chain snags and chip shortage #FinanceUSA #StockMarketNEWS
Self-driving technology company Aptiv Plc warned that global vehicle production is now expected to come in at 79 million units in 2021, down from earlier guidance of 85 million, citing the combination of COVID-19 disruption, the global chip shortage and supply-chain issues. The Dublin-based company said for the third quarter, global vehicle production is expected to come in at about 18 million units, down from the 21 million units expected on Aug. 5, the last time it offered guidance. "Global vehicle production for the fourth quarter is currently expected to be approximately 20 million units, or a decrease of approximately 13% from the 23 million units expected previously," the company said in a statement. Aptiv is now expecting full-year revenue to range from .1 billion to .5 billion, down from prior guidance of .1 billion to .4 billion. The company will offer third-quarter earnings on Nov. 4. Shares were down 2.2% premarket, but have gained 27% in the year to date, while the S&P 500 has gained 17%.


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