Porsche, Audi, VW brand names flag chip risk in months in advance

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FRANKFURT — Volkswagen Group’s top a few brand names have pointed to an ongoing shortage of automotive chips that could intensify in the coming months, highlighting the industry’s issues in tackling the difficulty. “Even though there are signals that the provide bottlenecks for semiconductors are beginning to simplicity, we expect […]

FRANKFURT — Volkswagen Group’s top a few brand names have pointed to an ongoing shortage of automotive chips that could intensify in the coming months, highlighting the industry’s issues in tackling the difficulty.

“Even though there are signals that the provide bottlenecks for semiconductors are beginning to simplicity, we expect a pretty challenging 3rd quarter from a offer standpoint,” reported Alexander Seitz, CFO of VW’s namesake model.

VW said on Thursday that shed output due to the crisis, which started out to strike the automotive industry at the stop of 2020, at this time stood at a large 6 digit selection of vehicles.

Volkswagen nevertheless managed to produce record profits for the first fifty percent of 2021, favoring high-margin Porsches and Audis in its allocation of chips, a key part in modern-day automobiles.

“In spite of all this achievement, we are nicely encouraged to keep both ft on the ground,” Porsche CFO Lutz Meschke said. “Due to the fact irrespective of the uncertainties of the coronavirus pandemic, the continuing tense problem on the semiconductor market could come to be visible in the third quarter.”

VW, which has been hit by the bottleneck alongside with rivals Daimler, BMW, GM and Ford, on Thursday claimed it had managed the scenario very effectively, but also highlighted “some affect” in the third quarter to September.

Audi, Volkswagen’s most important revenue contributor, on Friday explained there have been signs that the months forward would be marked by a important offer circumstance.

“Audi carries on to get the job done intensely on counter-measures, but in view of the continuing scarcity it is not anticipated to be doable to compensate in total in the study course of the calendar year for missing generation,” it mentioned.

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