Chip Shortage: Volkswagen, Stellantis Say 1.4 Million Vehicles Lost in Production
New Delhi: Due to severe semiconductor chip shortage across the globe has cost Volkswagen and Stellantis a combined 1.4 million vehicles in lost production in the third quarter, said on Thursday.
Europe’s two biggest carmakers, however, expectant recuperation soon in the market.
As per the reports, Volkswagen, the world’s No. 2, recorded lower than expected quarterly operating profit as it has to toned down sales expectations. It made around 800,000 fewer cars, or about 35 percent less than in the same quarter in 2020.
Stellantis, the world’s fourth largest automaker, recorded a 14 percent fall in pro-forma quarterly revenue due to less production of about 600,000 vehicles.
Stellantis finance chief Richard Palmer reported a “moderate” improvement in chip supply in October.
