interest Volkswagen It will provide fewer cars to customers this year than originally expected. The reason is the global shortage of semiconductors, which greatly affected its business in China, although the demand in the domestic market is still high.
Domestic sales are down
The company now assumes that the number of vehicles delivered will not increase and will remain at last year’s level. The auto group also reported Thursday that its operating profit in the third quarter fell 12 percent to 2.8 billion euros compared to the same period last year. In the domestic European market, the number of cars sold decreased by 24 percent.
Arno Antlitz, Chief Financial Officer, sees the results as a challenge for improvements while keeping costs low and productivity increasing. “The semiconductor barriers in the third quarter clearly showed us that we are not resilient enough to fluctuations in capacity utilization,” Antlitz said.
Activate electric cars
Semiconductors are widely used in automotive electronics. The demand for their use in various devices, from game consoles to tablets to webcams, has outpaced manufacturers’ ability to rapidly boost production capacity, which has also affected the automobile industry.
Despite the lack of semiconductors Volkswagen He continued to promote electric cars. In the third quarter, it sold 122,100 all-electric vehicles, more than double what were sold in the same period last year.
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