Volkswagen shares easier: Volkswagen throttles production in Wolfsburg due to lack of chips | 08/20/21

The shortage of semiconductors is increasingly affecting automakers.

A company spokesperson said Volkswagen will only produce in one shift on all production lines at the main plant next week. The site will be applied to work for a short period of time for all shifts or other areas. “Continued restriction on the ongoing supply of semiconductors continues to cause significant disruptions to global auto production across all manufacturers,” the spokesperson added.

The limitations are not entirely surprising. Over the past few weeks, automakers have repeatedly asserted that supply bottlenecks for power semiconductors will limit production, especially in the third quarter.

Toyota, Volkswagen’s rival, recently announced that it would cut production by up to 40 percent in September due to a chip shortage. The Japanese automaker will stop production lines at its major Japanese plants in Toyota City and Tsutsumi from September 1-17.

As for Volkswagen stock, it finally fell on Friday via XETRA by 1.02 percent to 192.86 euros.

Frankfurt (Dow Jones)