Porsche can not rule out production cuts over chip shortage -Handelsblatt

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FRANKFURT - Volkswagen's luxury sports car unit Porsche AG might have to adjust production to reflect an ongoing shortage of crucial automotive chips, Handelsblatt reported.

"We cannot rule out that we will lower the volume of some models in the near future," the company was quoted as saying by Handelsblatt, without giving more details.

The lack of semiconductors, which has roiled the global car sector, caused General Motors Co to announce earlier on Thursday extended production cuts at some of its North America factories.

Porsche AG parent Volkswagen said it expects chip supply to remain tight in the coming months, adding it could not provide a visibility for the full year.

(Reporting by Christoph Steitz; Editing by Kirsten Donovan)

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