Volkswagen expects chips shortage to ease in Q3 By Reuters

Volkswagen expects chips shortage to ease in Q3 By Reuters


© Reuters. FILE PHOTO: Employees work on an assembly line as the Volkswagen construction plant reopens after closing down last month due to the coronavirus disease (COVID-19) outbreak in Bratislava, Slovakia April 28, 2020. REUTERS/Radovan Stoklasa/File Photo

BERLIN (Reuters) – Volkswagen (DE:) expects a shortage in semiconductor supply to ease in the third quarter but sees the bottlenecks continuing in the long-term, a board member told Handelsblatt newspaper.

“At the moment we have reached the lowest point. We are facing the toughest six weeks,” Murat Aksel, the head of procurement on the Volkswagen board, told the newspaper in an interview.

He said he expects around 10% shortage in chips over the long-term as building up production capacities takes up to two years.

Volkswagen will prepare for the bottlenecks by expanding its chips storage and is currently classifying the supply risk of its all models components, he added.

Automakers and electronics producers around the world are being hit hard by manufacturing delays of chips, caused by a global shortfall.

Volkswagen AG (OTC:) has been unable to build 100,000 cars due to the shortage, CEO Herbert Diess said in March, adding the group would not be able to make up for the shortfall in 2021.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





Source link

Leave a comment

Send a Comment

Your email address will not be published.

Enter text shown below: