Volkswagen CFO expects inflation to ease and chip shortage to drag on – WSJ

– Volkswagen AG expects inflation to ease later this yr but warned there would be no important improvement within the world semiconductor shortage, Chief Financial Officer Arno Antlitz instructed the Wall Boulevard Journal in an interview.

The German carmaker used to be smartly-hedged towards inflation, Antlitz told the Magazine on Monday, including that the corporate had mitigated the have an effect on of uncooked material and component price will increase thru rigorous value-cutting.

According to the report, he said the present high inflation shall be brief, however the company would continue to fight with a good supply of chips throughout the 12 months.

Volkswagen in December had stated the chip crunch might proceed to pose challenges to Europe’s greatest carmaker throughout at least the primary 1/2 2022, while the 12 months as an entire will have to show a mild development.

The tight chip supply has led automakers across the global to curtail car manufacturing, but has additionally pushed up benefit as car costs upward thrust.

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