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Truck maker Navistar says Omicron variant is likely to slow supply chain recovery -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: A row of trucks is parked near the Escobedo manufacturing facility of International-brand commercial trucks. It’s located on the outskirts Monterrey (Mexico), June 29, 2017. REUTERS/Daniel Becerril

(Reuters) – U.S. truck manufacturer Navistar (NYSE 🙂 International Corp supported by Volkswagen (DE 🙂 said Wednesday that the Omicron coronavirus variant would slow down the recovery of global supply chains.

Due to shortages of semiconductor chips that are used in everything, including driver assistance and infotainment system, major automakers have had to reduce their production, sometimes building vehicles without specific features.

It told Reuters via email that Navistar had adjusted its production plan for the next year in accordance with supplier’s expected delivery times.

Paul Martin (Vice President of Finance and Revenue at Navistar), stated that they are flexible and may increase production rates if demand exceeds current forecasts.

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