Audi CEO hopes for chip supply stabilisation by summer 2022

FRANKFURT (Reuters) - Volkswagen's premium carmaker Audi expects chip supplies to remain tight at least until summer 2022, Chief Executive Markus Duesmann told German newspaper Augsburger Allgemeine.

"We hope that we can reach a stabilisation with regard to production and chip deliveries at the end of the first half of 2022," Duesmann, who also sits on the management board of Volkswagen, was quoted as saying.

Volkswagen last week cut its outlook for deliveries, toned down sales expectations and warned of job cuts as a shortage of computer chips caused Europe's largest carmaker to report lower-than-expected operating profit for the third quarter.

Duesmann told Reuters last month that Audi had to troubleshoot on a day-to-day basis to tackle the ongoing shortage of auto chips, calling the situation "a perfect storm".

(Reporting by Christoph Steitz; Editing by Steve Orlofsky)