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Ford and Nissan will cut vehicle production due to a chip shortage

Jon Fingas
·Associate Editor
·1 min read

Chip shortages aren’t just hurting your access to CPUs and GPUs — they’re hurting the car market, too. CNBC, ABC News and The Verge report that Ford and Nissan are scaling back production in response to semiconductor shortages. Ford is idling an SUV factory in Louisville, Kentucky this week, moving up downtime previously scheduled for later in 2021. Nissan, meanwhile, is reducing output at its Oppama plant in Japan.

Other brands may face trouble as well. Volkswagen said in December that it was altering production in China, Europe and North America in light of the shortage. Fiat Chrysler and Toyota have also talked about production issues. GM hasn’t had to cut production, spokesman David Barnas told CNBC, but it’s keeping an eye on chip-related issues.

The shortage surfaced in late 2020 after demand for cars spiked following pandemic-related factory shutdowns for two months.

These issues might be difficult to avoid at a time when car production and demand are unstable. Modern cars are highly dependent on chips for driver assistance features, infotainment systems and basics like steering. Until chip availability and car demand are under control, delays and limited inventory might be relatively commonplace.

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    The stock market closed out the first week of 2021 on a positive note, with all three major indexes hitting new record high levels. The gains come as investors are feeling confident. The COVID vaccines coming available and, according to U.S. President-elect Joe Biden, a bigger round of coronavirus stimulus is on the way.But even in a rising market, it’s still possible to find some stocks that haven’t yet joined in the general gains. These stocks, whose prices are hitting bottom, present investors with a choice and an opportunity. The choice is to take the risk or not; the opportunity is to buy low, when the chance for gains is best.Wall Street’s analyst corps know this, and they are not shying away from recommending stocks that may have hit bottom. Using TipRanks database, we pinpointed two such stocks. 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    * Benzinga has examined the prospects for many investor favorite stocks over the past week. * The week's bullish calls included automakers and a recovering retailer. * Beverage giants and a satellite radio leader were among the bearish calls.The major U.S. indexes finished a busy and hectic first week of 2021 with modest gains, led by a 2.4% rise in the Nasdaq. The historic Georgia runoff election results were followed by seditious violence in Washington, D.C., that was widely condemned, failed to stop certification of presidential election results and has led to some blowback on the current president already.In addition, there was more good news about the COVID-19 vaccines, even as the pandemic led to further lockdowns. An aerospace leader appeared set to put its troubles behind it, only to face fresh bad news. Meanwhile, a transportation and delivery giant aims to expand its air cargo fleet.Also last week, a financial giant faced new federal scrutiny, Bitcoin continued to soar, and the latest jobs numbers were ugly.Through it all, Benzinga continued to examine the prospects for many of the stocks most popular with investors. Here are a few of this past week's most bullish and bearish posts that are worth another look.Bulls In "Why The Biden Administration Could Be Very Bullish For Ford, GM," Wayne Duggan discusses why Ford Motor Company (NYSE: F) and General Motors Company (NYSE: GM) are likely to see their fair share of $40 billion in federal funding intended for clean energy efforts."4 Reasons Why Li Auto Is Poised For 48% Compounded Annual Growth Over By 2025" by Shanthi Rexaline examines four reasons why Chinese electric vehicle startup Li Auto Inc. (NASDAQ: LI) is poised to outperform in the near to medium term, according to one top analyst.Priya Nigam's "BofA Upgrades Mastercard On 'Potentially Priceless Opportunity'" focuses on how Mastercard Inc (NYSE: MA) could benefit from pent-up demand for both domestic and cross-border leisure travel, an opportunity not reflected in the recent share price.Enterprise Products Partners LP (NYSE: EPD) is among "Bond King" Bill Gross's top picks for 2021. So says Chris Katje's "Tesla, SPACs 'May Struggle,' Natural Gas To Shine In 2021: Bill Gross." See why it and peers could outperform the favorites of "day trading Robinhoods."In Jayson Derrick's "Why The Year Ahead Looks Promising For Bed Bath & Beyond," see why specialty retailer Bed Bath & Beyond Inc. (NASDAQ: BBBY) showed strong momentum heading into the new year, lifting expectations for its upcoming fiscal third-quarter earnings report.For additional bullish calls of the past week, also have a look at the following: * 4 Reasons The Stock Market Rally Could Resume In 2021 * Jim Cramer's 9 Dividend Stock Picks For Fixed Income Investors * Georgia Runoff Results Bode Well For Cannabis If Lawmakers Follow Through, Industry Pros SayBears In Wayne Duggan's "Michael Burry To Tesla Investors: 'Enjoy It While It Lasts'," see why a former hedge fund manager is sticking with his bearish bet on Tesla Inc (NASDAQ: TSLA) even though other bears have thrown in the towel and upgraded the stock. Will the Tesla story ultimately end poorly?"RBC Highlights Valuation Concerns In Coca-Cola, PepsiCo Downgrades" by Jayson Derrick shows why the bullish case for beverage giants Coca-Cola Co (NYSE: KO) and PepsiCo, Inc. (NYSE: PEP) has come to an end. What growing pains and headwinds do they face?Henry Khederian's "Is SiriusXM Screwing Up By Potentially Losing The New 'King of All Media' Dave Portnoy?" argues that Sirius XM Holdings Inc (NASDAQ: SIRI) has backed the wrong horse by choosing to renew Howard Stern's contract.Increased regulation and legislation are likely to affect the financial liability of 3M Co (NYSE: MMM), according to "Why A Democratic Congress Is Turning This 3M Analyst Bearish" by Priya Nigam. See why negative headlines and lawsuits may be ahead.For more bearish takes, be sure to check out these posts: * Airlines Expect Turbulent 2021 After 2020 Erased Two Decades Of Passenger Traffic Growth * Scott Nations Is Bearish On 10-Year TreasuriesAt the time of this writing, the author had no position in the mentioned equities.Keep up with all the latest breaking news and trading ideas by following Benzinga on Twitter.Photo courtesy of Ford.See more from Benzinga * Click here for options trades from Benzinga * Barron's First Picks And Pans Of 2021: Disney, Home Depot, Intel, Nike, Nordstrom And More * Notable Insider Buys Of The Past Week: Danimer Scientific, Cheniere Energy Partners And More(C) 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • Big banks kick off Q4 earnings season, retail sales: What to know in the week ahead

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  • Here's why you should consider a Roth IRA conversion

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