Global chip crisis deepens with Daimler, Jaguar warnings on sales

A shortage of automotive chips that began late last year as consumer demand for personal devices soared amid pandemic lockdowns has persisted through 2021

Daimler AG and Jaguar Land Rover became the latest carmakers to warn sales will be further crimped by the global semiconductor shortage, with the latter flagging deliveries in the second quarter will be 50% worse than initially thought.

Shares in the British luxury carmaker’s Indian parent Tata Motors Ltd. slid 8.4% Tuesday in Mumbai, their biggest drop in almost three months, while Daimler, owner of Mercedes-Benz, fell 4% in Frankfurt, the biggest loss since October. Jaguar Land Rover’s euro bond due January 2026 fell the most since Dec. 11, according to Bloomberg-compiled prices.

A shortage of automotive chips that began late