Crisis is far from over
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It may be a long time before the global chip shortage no longer affects the auto industry. That is the expectation of Volkswagen Group CFO Arno Antlitz.
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The chip shortage is still causing reduced production, especially in Europe. This is evident from new figures from AutoForecast Solutionsabout what Automotive News message. The most recent estimate is that 1.4 million fewer cars have been built worldwide this year than planned. The outlook has also become somewhat bleaker: the expected production number for the whole year is in a latest forecast by almost 100,000 cars lower. No fewer than 97,600 of these are attributable to the further scrapped production in Europe. The crisis is hitting our continent the hardest, relatively speaking, they also notice at the Volkswagen Group.
Arno Antlitz, the financial chief of the group, talks with the Stock exchanges newspaper open a book about the problems. “A solution to the structural supply shortages is probably not expected until 2024,” he said gloomily. Antlitz expects that Volkswagen will not fully meet the demand for only in that year new cars can meet. An additional hitch is currently the reduced supply of cable harnesses from Ukraine.
Antlitz does not provide precise adjusted production figures. AutoForecast Solutions is now targeting a worldwide production reduction of 2,188,800 cars for this year, of which 1,009,900 in Europe. The conclusion is therefore clear: the chip shortage is hitting Europe hardest.
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