Tech and Auto

Reduced car production hits TomTom’s quarterly core earnings, Auto News, ET Auto


Reduced car production hits TomTom's quarterly core earningsDutch navigation and digital mapping company TomTom reported on Thursday weaker-than-expected quarterly core earnings as semiconductor supply chain issues limited car production volumes.

The Amsterdam-based company, whose customers range from major car makers to leading global tech firms, reported a third-quarter loss before interest, taxes, depreciation and amortisation (EBITDA) of 5.3 million euros ($6.14 million), missing the 1-million-euro loss analysts had forecast. ($1 = 0.8630 euros)

The move comes as several autonomous trucking companies prepare to launch driverless routes in the coming years and begin signing up industry partners and customers in an effort to turn long-elusive self-driving into a profitable reality.

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