"The margins are better": VW boss Diess on the positive price effect of the semiconductor shortage for the group
businessinsider.de/wirtschaft/mobility/die-margen-sind-besser-vw-chef-diess-ueber-den-positiven-preis-effekt-des-halbleiter-mangels-fuer-den-konzern-a/
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Chip Shortage Boosts VW Profits Amid Production CutsIn 2021, VW increased profits by 25% despite producing 25% fewer vehicles, achieving profitability in the US for the first time in decades.
Key FactsJul 7, 2022 · Reading time: ~45 sec.
Summary created with AI assistance · Source: businessinsider.de
Summary created with AI assistance · Source: businessinsider.de
- The ongoing chip shortage and supply disruptions caused by the Ukraine war have constrained car production for over a year.
- Volkswagen CEO Herbert Diess highlights that the shortage has improved profit margins by reducing discounts and raising used car values.
- VW achieved a 25% profit increase in 2021 despite producing one quarter fewer vehicles, with revenues remaining stable.
- Short-time work and plant closures, including at Porsche, mark current challenges, while semiconductor supply is expected to improve in the second half of the year.
The missing parts actually have a positive effect on the entire auto industry, because margins are better. We are giving fewer discounts—and the residual values of used vehicles are rising.— Herbert Diess, VW CEO, in an interview with Süddeutsche Zeitung (SZ)
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Summary created with AI assistance · Source: n-tv.de
Summary created with AI assistance · Source: n-tv.de
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