Floods cut Porsche production by 17K units

AutoExec Summary
RECENT flooding in Switzerland has caused Porsche to lose production of up to 17,400 vehicles, impacting over 11 per cent of its first-half deliveries. Aluminium producer Novelis, owned by India’s Hindalco Industries, declared a “force majeure event” due to flooding at its plant in Sierre, Switzerland. This has affected Novelis’ ability to deliver to its automotive customers in Europe, including Porsche. The disruption may lead to Porsche pausing production and lowering its sales and profitability outlook for the year. Other European automakers like BMW and Mercedes-Benz are also affected and seeking alternative suppliers. Porsche now expects lower sales and profitability due to the production disruption caused by the flooding.

Brands mentioned: Porsche, Volkswagen, Stellantis, Mercedes-Benz, Ford, BMW, Audi