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Volkswagen China sees chips crunch easing in Q3

Reuters
·1-min read

BERLIN (Reuters) - Volkswagen expects semiconductor supply bottlenecks in China to start easing over the coming weeks and to cover the needs of the carmaker's main brand by the end of the third quarter, it said on Friday.

"We see light at the end of the tunnel," Volkswagen China chief Stephan Woellenstein told journalists in a briefing.

Woellenstein said he was still confident the company will record a rise in sales volume in China, both for the VW brand and the group, this year as long as the chip shortage does not worsen.

But he cautioned that further adjustments to production of Volkswagen brands made in China could not be ruled out due to COVID-19 outbreaks in Malaysia that were affecting chipmakers.

(Reporting by Jan Schwartz; Writing by Riham Alkousaa; Editing by Maria Sheahan)