Honda and Nissan to sell a quarter of a million fewer cars because of chip shortage

TOKYO (Reuters) - Japan's second and third largest automakers, Honda Motor and Nissan Motor, will sell a combined 250,000 fewer cars in the current financial year as a global shortage in semiconductor chips hits production.

The automakers made the announcement as they unveiled brighter outlooks for the financial year ending March 2021 as automobile markets, led by China, rebounded from a coronavirus-induced slump.

Honda and Nissan also reported better-than-expected results for the October-December quarter.