Volkswagen results hit by chip shortage

The Volkswagen Group has had the worst quarter of the year in terms of turnover and profit. The results are also lower than in the third quarter of last year. The chip shortage is affecting the company.

Global chip shortages are clearly impacting Volkswagen’s financial results. The Volkswagen Group reports a drop in operating result of 12 percent. In a statement, Volkswagen made a direct link to global semiconductor bottlenecks. Operating profit, earnings before items such as taxes, interest and depreciation, came in at €2.8 billion. That was less than in the first and second quarters of this year, and also less than a year earlier, when the car manufacturer already had a weak quarter due to the corona pandemic. Volkswagen did not include one-off items in these results. The …

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Source: AutoWeek by www.autoweek.nl.

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