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Volkswagen Says Supply Jams Here to Stay as Earnings Stagnate

Started by Epoch-Times-Bot, Oct 29, 2022, 06:15 AM

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Epoch-Times-Bot

Oct 29, 2022, 06:15 AM
Volkswagen Says Supply Jams Here to Stay as Earnings Stagnate

BERLIN—Volkswagen said supply chain troubles were the new norm as it reported stagnated earnings in the third quarter, but the carmaker still expects growth in the autos market next year as some bottlenecks look likely to ease.
The carmaker lowered its expectations for deliveries this year to be on par with 2021, down from a previously-forecast 5 percent–10 percent rise, but maintained its earnings outlook of hitting the upper end of a 7 percent–8.5 percent margin by cutting fixed costs.
Plans to bring software unit Cariad, plagued by overspending and long delays, back on track were underway with an internal meeting taking place on the topic on Friday afternoon and several key decisions expected in coming weeks, Chief Executive Oliver Blume said....

Source: Volkswagen Says Supply Jams Here to Stay as Earnings Stagnate

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