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Nissan and Honda fear fallout from chip crunch

Japanese carmakers expect sales hit even as cost cuts help bottom line

Nissan and Honda expect the semiconductor shortages to be resolved by around the middle of this year. (Source photos by Getty Images) 

TOKYO -- Nissan Motor and Honda Motor on Tuesday both acknowledged heavy burdens to their businesses triggered by semiconductor shortages, with both Japanese car companies cutting their estimates for vehicle sales this fiscal year.

The carmakers have revised upwards their full-year bottom line forecasts through March, the second time since November, as they push cost-cutting efforts to navigate the effects on the industry of COVID-19.

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