Volwagen sees supply shortage in third-quarter

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Volwagen sees supply shortage in third-quarter

BERLIN - Volkswagen sees a shortage in semiconductor supply to ease in the third quarter but that the bottlenecks continue to happen in the long-term, a board member told Handelsblatt newspaper.

At this point we have reached the lowest point. We are facing the toughest six weeks, Murat Aksel told the newspaper in an interview.

He said he believes that he expects a 15% deficit in chips over the long-term, as building up production capacity takes up to two years.

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

In the world, Automakers and electronics companies are being hit hard by manufacturing delays of chips which are caused by a global shortage.

Due to the shortage, Volkswagen has been unable to build 100,000 cars, said CEO Herbert Diess in March, adding that the group would not be able to make up for the shortfall in 2021.

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