The global semiconductor bottleneck is also affecting the VW group. The operating profit fell by 12.1 percent. The bottom line, however, is a profit increase.
At the Volkswagen Group, the production stops due to the lack of chips are leaving their mark. Due to the slump in sales, the company no longer expects to deliver noticeably more vehicles for the full year than in the previous year, which was burdened by lockdowns, as VW announced.
The bottlenecks were also evident in the financial figures for the third quarter. Sales fell by 4.1 percent to 56.9 billion euros. Adjusted for special items, operating profit fell by 12.1 percent to 2.8 billion euros. At the corporate level, however, VW performed better than expected by experts.
The bottom line was a surprising increase in profit: earnings after taxes increased by 5.6 percent to 2.9 billion euros. Changes in the financial and investment result as well as in taxes played a role here.
The so-called volume group with brands such as VW Pkw, Seat or Skoda made operational losses. “The results of the third quarter show once again that we now have to consistently push ahead with improving productivity in the volume sector,” warned CEO Herbert Diess.
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
