FRANKFURT — Volkswagen Group’s best 3 models have pointed to an ongoing shortage of automotive chips that could intensify in the coming months, highlighting the industry’s difficulty in tackling the concern.
“Despite the fact that there are signs that the source bottlenecks for semiconductors are commencing to simplicity, we hope a incredibly difficult 3rd quarter from a source standpoint,” reported Alexander Seitz, CFO of VW’s namesake model.
VW reported on Thursday that misplaced output due to the crisis, which started off to strike the automotive industry at the finish of 2020, now stood at a substantial 6 digit selection of cars.
Volkswagen nonetheless managed to develop document gains for the initially fifty percent of 2021, favoring substantial-margin Porsches and Audis in its allocation of chips, a vital element in modern day cars.
“In spite of all this good results, we are properly suggested to maintain the two feet on the floor,” Porsche CFO Lutz Meschke reported. “Due to the fact no matter of the uncertainties of the coronavirus pandemic, the continuing tense circumstance on the semiconductor sector could develop into apparent in the 3rd quarter.”
VW, which has been strike by the bottleneck alongside with rivals Daimler, BMW, GM and Ford, on Thursday reported it had managed the circumstance quite properly, but also highlighted “some effect” in the 3rd quarter to September.
Audi, Volkswagen’s largest profit contributor, on Friday reported there were being signs that the months forward would be marked by a essential source circumstance.
“Audi proceeds to work intensely on counter-steps, but in see of the continuing shortage it is not anticipated to be attainable to compensate in total in the training course of the calendar year for misplaced output,” it reported.