Automakers

The restructuring of Volvo's U.S. and Canada operations is part of an US$88 million global initiative to tighten spending, drive efficiencies, and update the work force. It does not affect Volvo's production network.

Microchip shortages continued to trip up automakers in China and Asian markets outside of China.

Companies removed 56,199 vehicles from factory schedules this week because of a lack of semiconductors, AutoForecast Solutions said, pushing its year-to-date estimate of eliminated vehicles to about 2.04 million.

Automakers cut 49,330 vehicles from production plans at their North American factories this week because of the microchip shortage.